March 21, 2022
By Karmen Alexander
JPMorgan Chase & Co.’s traditional brokerage unit has lured a Miami team from UBS Wealth Management USA with $4.8 million in revenue and also picked up a solo practitioner from Goldman Sachs who produced $2.3 million in Boston, according to an announcement.
Brent Herbert joined J.P. Morgan in February after overseeing around $445 million in assets at Goldman. He has 13 years of experience and joined Goldman from Mizuho Securities in 2017, according to BrokerCheck.
Herbert also reports to Penafiel.
JPMorgan is almost two years into a campaign to double its headcount from the roughly 450 at its traditional brokerage. The unit last month lured another team also reporting to Penafiel. The team, led by Andrew Parvey and Maureen Wilson, joined from Merrill Lynch. They managed $200 million in client assets and generated revenue of $2 million.