J.P. Morgan Wealth Administration on Friday employed a Merrill Lynch lifer who managed $940 million in property in Los Angeles, in response to an announcement from the hiring agency.
J. Tiffany Yu, who first registered with the thundering herd in 1998, joined an present workforce at J.P. Morgan Advisors in Century Metropolis, in response to the announcement.
The workforce, Elevate Wealth Companions, is led by advisor Eric Grey and contains two different advisors and 5 assist workers. Yu and members of the workforce didn’t reply to a request for remark.
“Her rent builds on our established presence within the Los Angeles group and strengthens our means to fulfill rising consumer demand there,” Michael Rogers, Los Angeles regional director, stated in a press release.
J.P. Morgan earlier this yr added different advisors in California, together with David Amar, who managed $1.1 billion in Los Angeles at William Blair, and Pourya Naeimi, who oversaw $533 million in Palo Alto at Wells Fargo, in response to the announcement.
They report back to Mollie Colavita, a former Merrill Non-public Wealth supervisor who took over as head of J.P. Morgan’s wealth unit in September 2025. Naeimi, who joined in September, was one in every of Colavita’s first hires within the area since taking on.
Colavita’s predecessor, Phil Sieg, had set a goal in 2021 to greater than double the headcount at J.P. Morgan Advisors to round 1,000 from 450. Due to its father or mother financial institution’s buy of First Republic’s personal wealth unit in 2023, headcount jumped to round 600, though the agency has additionally suffered some massive departures.
Final month, two of its high groups, who managed $18.6 billion in property mixed, launched an RIA.
In the meantime, J.P. Morgan additionally final month employed former Merrill Lynch Non-public Wealth regional chief Linda A. Patel to be head of its Southeast territory based mostly in Palm Seashore Gardens, Florida. She additionally studies to Colavita and succeeds Janet Sweeney, a 40-year trade veteran who retired earlier this yr.
A Merrill spokesperson additionally didn’t reply to a request for remark.