Merrill Lynch loses two teams managing $500 million to Raymond James

Two separate broker teams collectively managing $500 million at Merrill Lynch in Tucson, Ariz., have joined the employee unit of Raymond James. Gail Giclas, who managed $377 million in assets at Merrill Lynch, made the move with her son, branch intern Eli Glicas, as well as client associate Neva Thomason, who had worked for Merrill Lynch for almost 30 years, and former summer intern Haley Culpepper. Stephen Neff, who also changed firms, managed more than $200 million in assets at Merrill Lynch with associate Kim Ohler. He began his career at Merrill Lynch in 1977. Ms. Giclas began her financial services career in 1983 with Boettcher & Company in Tucson. In 1992, she joined Shearson Lehman Brothers, which later became Smith Barney. In 2008, she joined Merrill Lynch.