In the past few weeks, dozens of former First Republic advisors have fled, landing at Morgan Stanley, UBS, JPMorgan and Rockefeller.
Exodus continues at SVB's private wealth division, with advisors most recently jumping to RIAs F.L.Putnam Investment Management, Cynosure Management and Cerity, according to SEC records.
The Todd Halbrook and Adam MacDonald Management Group in Newport Beach, Calif., is departing First Republic a little more than a month after some regional banks collapsed.
Barry Friedberg, co-chairman of New York Private Bank & Trust, Emigrant Partners’ parent company, will assume Heckenberg’s responsibilities on an interim basis.
The departure was announced alongside Nuveen’s settlement of a years-long legal battle with Preston Hollow Community Capital.