Merrill Lynch picked up a Credit Suisse advisor who oversaw $600 million in AUM, a spokeswoman said.
The move comes after Credit Suisse recently announced a deal with Wells Fargo, permitting the wirehouse to recruit its advisors. Credit Suisse intends to exit the U.S. brokerage market.
Wells Fargo offered Credit Suisse advisors up to 300% of their production, according to people familiar with the matter. While the offer is in line with similar recruiting deals, some Credit Suisse advisors are likely to move to other firms that offer more services for ultrawealthy clients, industry insiders say.
Advisor Nicole Andres joined Merrill's Private Banking & Investment Group in New York, where she reports to Mollie Colavita, regional managing director.
Andres started her career in 1991 at Donaldson, Lufkin & Jenrette, according to FINRA BrokerCheck records. She stayed through that firm's acquisition by Credit Suisse in 2003.
Also moving to Merrill are Kelsey Merritt, an MBA graduate, and analysts Robin Ramos and Kimberly Ward.
Last month, prior to Credit Suisse's announcement of the deal, the Swiss firm lost a $3.5 billion team to Merrill Lynch. Advisors Christopher Baldwin, Thomas Tyndorf and Andrew Skoglund joined the wirehouse's Private Banking & Investment Group in Chicago.