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The retirement income gap no-one is talking about

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ON THE MOVE-Merrill Lynch nabs three more brokers from Barclays

Reuters - UK Focus

NEW YORK, June 30 (Reuters) - Bank of America's Merrill Lynch said Tuesday it hired three more financial advisers from the recently sold Barclays Plc (LSE: BARC.L - news) 's U.S. wealth and investment management unit, adding to a cadre of advisers Merrill has poached from the Barclays unit this month.

Barry Schneider, Cris Bera and Chris Dewhurst joined Merrill Lynch's elite Private Banking & Investment Group in Houston where the three had managed around $750 million at Barclays for mostly high net worth clients in the oil and gas industry. The advisers were not available for comment.

Schneider, 70, got his start at Goldman, Sachs & Co, and later worked for Morgan Stanley (Xetra: 885836 - news) and Lehman Brothers before joining Barclays. Schneider's colleagues, Bera, 45, and Dewhurst (LSE: DWHA.L - news) , 36, also spent time at Lehman Brothers before joining Barclays.

Barclays did not respond to a request for comment.

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Earlier this month, Merrill Lynch said it hired a dozen advisers from Barclays, including Michelle Motsko and Michael Brodnik in Washington who had produced $3.2 million in annual revenues over the last year at Barclays.

U.S. investment bank Stifel Financial Corp (NYSE: SF - news) confirmed it would buy Barclays wealth unit earlier this month. (Reporting by Elizabeth Dilts; Editing by Phil Berlowitz)