A pair of Merrill Lynch advisors, Eric Gray and Lance Polverini, have joined JP Morgan Wealth Management in Los Angeles.

The Gray-Polverini team at Merrill Private Wealth Management specializes in very high net worth clients and manages approximately $28 billion in assets, generating approximately $10 million.

Prior to 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 JP Morgan Wealth Management.

At JP Morgan, they will report to David Berger, market leader for the Southwest region. Michael Rogers is the South West Regional Director.

The move comes just two weeks after a staff move in the other direction with Merrill Lynch recruiting 12-person team in Florida from JP Morgan managing $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 and Five Acres Yacht Club. He also founded the Los Angeles Sailing Foundation.

Polverini graduated with a bachelor's degree in political science and government from UC Berkeley and a master's degree in global politics from the London School of Economics. He is a member of the CFA Society of Los Angeles and a member of the Finance Council of St. Andrews Catholic Church. He is a board member of the Pasadena Police Activities League.