U.S. Trust has recruited a former J.P. Morgan manager to serve as a market executive, the firm says.

Randy Hammond joined the Charlotte, North Carolina, office of U.S. Trust, Bank of America’s elite unit serving ultrahigh net-worth clients, and will be responsible for the North Carolina, Tennessee, Kentucky, Alabama and Mississippi markets. He reports to Doug DiVirgillo, Southeast Division executive.

U.S. Trust's new hire Randy Hammond served in Dessert Storm.
Advisers on the move: J.P. Morgan loses $1.2B team
Also, Merrill gained teams with $1.5 billion in combined AUM, while UBS said farewell to a $426 million team.

Hammond moved to U.S. Trust after six years at J.P. Morgan Private Bank, FINRA BrokerCheck records show, where he served as the market manager for the Rocky Mountain states. In that role he managed teams of up to 450 advisers, U.S. Trust says.

Hammond started his career in 1995 as an adviser at Bank of America unit Merrill Lynch, according to BrokerCheck. He switched firms four more times after that, including two years at Morgan Stanley, before landing at J.P. Morgan.

Prior to entering the financial services industry, Hammond served in the Marine Corps and was a flight leader in Operation Desert Storm, a U.S. Trust spokeswoman says. He was awarded the Distinguished Flying Cross, decorated for heroism three times and retired with the rank of Lieutenant Colonel.

A J.P. Morgan spokeswoman declined to comment on Hammond’s departure.