Morgan Stanley Wealth Management has recruited several large advisor teams from rival firms, including JP Morgan Chase, UBS and HSBC.
In New York, Morgan Stanley has landed a US$1.5 billion team from JP Morgan Securities, which includes Scott Siegel, Mehmet Kirdar and Michael O’Hara. The trio joined JP Morgan Securities in 2008 from Bear Stearns & Co, according to FINRA records. Joseph Carmody, an advisor has also joined the team from UBS.
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The four-advisor team managed a combined US$1.5 billion in client assets and had annual revenue production of US$6.1 million at their previous firms, Morgan Stanley said.
At Morgan Stanley, Siegel has the title of managing director, Kirdar is a senior vice president and O’Hara and Carmody are assistant vice presidents. They will be based in the firm’s office at 522 Fifth Ave, reporting to branch manager Michael Simeone.
In Coral Gables, Florida, Morgan Stanley has hired Al Maulini and Joseph Torano as vice presidents from HSBC, where they managed US$121 million in client assets and had US$1.7 million in annual revenue production. They both will report to branch manager Sergio Alvarez-Mena.
"We confirm the two departures. HSBC will continue to serve its clients in Coral Gables through an experienced team of professionals," an HSBC spokesman said.
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By GlobalDataIn Allentown, Pennsylvania, Morgan Stanley has hired brothers Frank Marano and Donald Marano from Raymond James, where they managed US$100 million in assets and had US$1.2 million in annual revenue production.
Both the brothers have the title of vice president at Morgan Stanley and will report to complex manager Richard Franchella. The duo joined Raymond James about five years ago from Wachovia Securities, according to FINRA records.
In Atlanta, Morgan Stanley has hired Jason Moss, an adviser who managed US$130 million in client assets and had US$1 million in annual revenue production at Bank of America Corp.’s Merrill Lynch Wealth Management.
Moss holds the title of senior vice president at Morgan Stanley and will report to branch manager Michael Childs.
