William Blair recruited a Chicago-based advisor from Credit Suisse, the firm said.
The former Credit Suisse advisor managed about $320 million while at the firm, according to a person familiar with the matter.
Since Credit Suisse inked a deal with Wells Fargo, allowing the wirehouse to recruit away its advisors by early 2016, other firms have engaged in a fierce recruiting battle to attract Credit Suisse's biggest producers.
"There's a little bit of a feeding frenzy for some of the higher-end producers," David Carroll, head of Wells Fargo’s wealth- and investment-management division said at a conference this week.
Wells Fargo executives have made efforts to pitch their firm to Credit Suisse advisors, visiting offices and flying 211 of the Swiss firm's 270 advisors to St. Louis, where Wells Fargo Advisors is headquartered.
William Blair said that its newest hire, veteran advisor Lawrence D. Gilbert, works with business owners, high-net-worth families, and private foundations.
Gilbert started his career at Goldman Sachs in 1999, according to FINRA BrokerCheck records. He moved to HighTower in 2009, and transition to Credit Suisse four years later.
Prior to becoming a wealth manager, Gilbert was a professional market maker on the Chicago Board Options Exchange, according to William Blair.
Chicago-based William Blair has more than $16.7 billion in private wealth assets.
Ryan DeVore, head of the firm's Private Client Advisors, said that Gilbert was a great addition to the firm's advisor force.
"We are selectively expanding with the right people," said Ryan DeVore, William Blair’s head of Private Client Advisors.
- Firms Slug It Out Over Credit Suisse Advisors
- Wells Fargo Recruiting Credit Suisse Advisors One-by-One
- Morgan Stanley Recruiting Sweep: Advisors With Nearly $2B
- $600M Advisor Moves to Merrill