Lehman Brothers said it had hired a team from JPMorgan Chase & Co.'s private banking business to join its private investment management group.
The New York investment bank said Wednesday that it had hired five investment professionals to provide investment management, wealth advisory, and capital markets execution services to high-net-worth individuals, families, and businesses
Three of the five - Mary Mattson Kenworthy, William C. Gourd, and Peter C. Gambee - will be managing directors in private investment management; the other two will be vice presidents.
At JPMorgan the team was responsible for the investment, trust and estate, and private banking business in the New England region. They will now serve clients of Lehman's New York and Boston offices.
Lehman Brothers' investment management division had $148 billion of assets under management as of Feb. 28.
