The investment management arm of Raymond James Financial Inc. has hired portfolio manager Ashi Parikh from Bank One Corp.
Mr. Parikh will join Eagle Asset Management, an affiliate of the brokerage, as managing director and portfolio manager for investments in growing firms with large market capitalization on April 1, a spokeswoman confirmed.
He was team leader of the bank's One Group large-cap growth fund, which managed $3.4 billion at yearend. He left One Group last week, before its merger over the weekend with an acquired proprietary fund family, Pegasus.
"His departure is in no way related to the merger," a spokeswoman for Banc One Investment Advisors said.
The six-member team running the Bank One fund is now overseen by Richard R. Jandrian 3d, chief investment officer for equity securities at Banc One Investment Advisors.