A pair of Merrill Lynch advisors, Eric Gray and Lance Polverini, have jumped to J.P. Morgan Wealth Management in Los Angeles.
The Gray-Polverini Team at Merrill Private Wealth Management specializes in ultra-high-net-worth clients and manages around $28 billion in assets, producing around $10 million.
Before the switch, they had worked for Merrill Lynch for several years. Gray was previously employed by Goldman Sachs before joining Merrill Lynch in 2000. Polverini came to Merrill Lynch in 2007.
In addition to Gray and Polverini, their team of investment associate Drew Sapede and client associates Michelle Blackmer and Irma Deluna will also join J.P. Morgan Wealth Management.
At JP Morgan, they will report to David Berger, market leader for the southwest region. Michael Rogers is the southwest regional director.
The move comes just two weeks after a personnel move in the other direction with Merrill Lynch recruiting a 12-person Florida team from JP Morgan that manages $3.5 billion in client assets.
Gray graduated with a bachelor’s degree from the University of Pennsylvania and an MBA from the UCLA Anderson School of Management. He is a trustee of the New England Conservatory of Music in Boston and is a board member of the Transpacific Yacht Club and Five Acres. He also founded the Los Angeles Sailing Foundation.
Polverini graduated with a bachelor’s degree in political science and government from U.C. Berkley and a master’s degree in global politics from the London School of Economics. He is a CFA Society of Los Angeles and the St. Andrews Catholic Church Finance Council member. He is a board member of the Pasadena Police Activities League.
