Two J.P. Morgan Private Bankers who managed more than $1 billion in assets resigned last week with plans to join Merrill Lynch Private Wealth Management in Seattle, according to several sources familiar with the move.
Jacob �Jake� M. Burns and Ian M. Hagley produced $3 million in annual revenue, according to the sources. Burns will join Merrill in late September following a garden leave period required by his former firm�s employment contracts, and Hagley registered with the thundering herd on July 23, according to the sources and registration records.
The duo reports to Tracy Murphy, regional managing director for private wealth in the Pacific Northwest. Burns will join Merrill as a managing director and Hagley holds the title of vice president, according to the sources.
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