Stan Sargent, a manager at Prudential, has left to join Merrill Lynch in Merrill's Orlando branch. Sargent, who worked at Prudential for five years, started at Merrill Lynch in mid-May. He had previously worked at Merrill Lynch from 1983 to 1995, according to the NASD database.

Patrick Gainer, a CIMA designate, has left Merrill Lynch to form his own wealth management firm, Granite Bay Capital Management, affiliated with Wachovia Securities, in Granite Bay, Calif. Gainer was with Merrill Lynch for 10 years prior to moving in May.

After 14 years with Wells Fargo, Jane Magpiong is taking over as the head of Private Clients Group at FleetBoston Financial. She will work exclusively in the brokerage and wealth management department and will be responsible for developing planning strategies for the high-net-worth client of more than $1 million in assets. She held a similar position with Wells Fargo in California. Fleet also named Kevin Foley as senior financial advisor and wealth strategist. He will be working primarily with high-net-worth clients in the New York City area. Foley previously worked as managing director for JPMorgan Chase Private Bank.

Alexander Key Investments, a subsidiary of SunTrust Banks in Washington D.C., has hired Thomas Carter as senior VP and private wealth advisor. Carter comes from Morgan Stanley, where he served as senior VP of Morgan's Wealth Advisor Group.

It was a busy month for Alexander Key. The firm announced the hiring of Craig Forbes and Arthur Washburn to its Richmond office as VPs and advisors. They come to the firm from Prudential.