Convergent coup may be ominous for wirehouses
Convergent Wealth Advisors' stunning lift-out of two advisory teams — which are estimated to oversee a combined $7 billion in assets — from Citigroup Inc.'s institutional-clients group may precipitate a spate of similar deals as large banks continue to face financial woes.
Convergent Wealth Advisors' stunning lift-out of two advisory teams — which are estimated to oversee a combined $7 billion in assets — from Citigroup Inc.'s institutional-clients group may precipitate a spate of similar deals as large banks continue to face financial woes.
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