Howard Diamond Quoted
By Michael Wursthorn And Joann S. Lublin
Dozens of top brokers from Credit Suisse Group AG’s U.S. private-banking unit are unhappy over their proposed recruitment by Wells Fargo & Co., creating an opening for rival brokerages to poach them, people familiar with the matter said.
“The larger firms would certainly have a good in to speak with these larger-producing advisers and convince them to join their firm by offering considerably more than the $5 million [up front] offered by Wells Fargo,” said Howard Diamond, managing director and general counsel at Morristown, N.J.-based Diamond Consultants, a firm that specializes in broker recruiting.
