Merrill Lynch loses two more advisors to Bolton Capital

Bolton Global Capital has hired two more advisors from Merrill Lynch as the broker-dealer continues to benefit from the ongoing exodus from the wealth management giant’s international desk, Citywire Americas can reveal.

Samuel Nunez, a 23-year Merrill veteran advisor with a client book of $125 million and annual revenue of $1 million, is joining the group’s San Diego office while Oscar Guevara, an advisor with an annual revenue of $1 million and client assets of $80 million, is joining it’s Miami office.

In his new role Nunez will be reporting to Jim Jao, a former complex manager and advisor who also worked previously at Merrill, and will cater mainly to clients in Mexico and the US.

Guevara is also a Merrill veteran, having worked with the group for the past 14 years. Bolton added that in his new team, Estafania Navas will now be responsibe for client services.

The pair are the latest advisors to join Bolton’s ranks as the independent broker-dealer aims to generate over $1.5 billion in new client assets over the next six to 12 months.

Over the past six months the group has hired a total of six teams from Merrill Lynch, as a portion of their international advisors look for new opportunities.

These exits stem from its announcement last summer, which said it was restructuring its international desk, cutting down the number of client countries it will deal with from 85 to 29, and doubling its minimum account size on non-US accounts from $500,000 to $1 million for existing clients.