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ON THE MOVE-Merrill Lynch hires two more advisers from Barclays

Reuters - UK Focus

July 29 (Reuters) - Bank of America Corp's Merrill Lynch said it had hired two private wealth advisers from the recently sold U.S. wealth management unit of Barclays Plc (LSE: BARC.L - news) .

Jim Ertmann and Ben Foster will join Merrill's Private Banking & Investment Group (PBIG) from Barclays Wealth Management.

Ertmann and Foster, who jointly founded wealth management business Ertmann-Foster Group in 2008, managed more than $800 million of client assets at Barclays.

Barclays was not immediately reachable for comment.

Last month, Merrill Lynch hired around 20 brokers, who managed a combined $1.8 billion in assets at their previous firms. The brokers included a dozen from Barclays Wealth Management.

Merrill Lynch Wealth Management hired 187 advisers in the quarter ended June 30, bringing its total adviser count to 14,370. (Reporting by Krishna Chaithanya in Bengaluru; Editing by Maju Samuel)