Wells Fargo & Co. is continuing to attract brokerage industry talent to its private client group.
On Monday the San Francisco-based banking company said it had hired Charles W. Daggs 3d, a former chief executive of Rodman & Renshaw Inc., as executive vice president and regional managing director in its private client group.
Mr. Daggs will be responsible for the group's business in the San Francisco Bay region, which includes the city, Silicon Valley, and the Monterey Peninsula. He reports to Dennis J. Mooradian, the executive vice president in charge of Wells' private client group.
In an interview last summer, Mr. Mooradian, a Lehman Brothers veteran, said he hoped to recruit more executives with brokerage sales experience to Wells. He has since placed 12 people from brokerages in top positions at the bank.
Before running Chicago-based Rodman & Renshaw, Mr. Daggs was a senior managing director for Bear Sterns & Co. in Dallas. Taking the job at Wells represents a homecoming for Mr. Daggs, who once was president of Sutro & Co. in San Francisco.
Also joining Wells in the private client group is Joe W. DeFur, who most recently managed 90 brokers at Gruntal & Co. in New York and previously led a domestic high-net-worth and institutional sales force for Lehman Brothers. Mr. DeFur will be a senior vice president and managing director in charge of Wells' private client offices in Sacramento, Santa Rosa, Marin and the Central Valley.
In addition to a handful of account executives, including Annette Musa from Smith Barney in Scottsdale, Ariz., Mr. Mooradian also named seven people as sales and regional managers.
Recruited as regional managers are: Mark Tobin from Oppenheimer & Co. for Beverly Hills and Brentwood; Mike Conway from Lehman for Arizona; and Thomas Kovach from Piper Jaffray for Colorado.
To direct all sales development for the group, Kristian Sorenson was hired as a senior vice president. He joins Wells from Smith Barney in Portland, Ore.
Two regional sales managers were named to oversee San Diego and the state of Washington, They are, respectively, Robert Lakosil from Prudential Securities and Jeffrey Bander from Everen Securities.
Wells manages $28 billion of assets for private clients.
