First Republic just landed a massive team from Wells Fargo in Bellevue, Washington – led by Nichole Heidrick. We’ve yet to confirm final numbers, but we hear that the team manages better than $2B in client assets and annualized revenue that stretches beyond $4M.
In other words, a massive haul and headlining win for First Republic.
Some details about the team. As we hear it the AUM associated with Nichole and her team stretches to nearly $2.5B. An eye opening number. From a background standpoint, Ms. Heidrick has been at Wells Fargo since 2008 after spending nearly four years at Goldman Sachs.
A quick word about First Republic and their recruiting wins of late – they’ve been big, really, really big. Almost as if they are focusing on and specializing in winning the battles for billion dollar teams. Remarkable stuff.
As we gather more details about this move, we will bring them to you. Should you be interested in a little math, take a look at First Republic’s deal and Ms. Heidricks annualized revenue?? We are taking about, potentially, a $35M – $40M payout. Wow.
