Aug 27 Morgan Stanley Wealth Management said
Tuesday that it has recruited several large adviser teams from
rival firms, including JP Morgan Chase, UBS and HSBC.
In New York, Morgan Stanley hired Scott Siegel, Mehmet
Kirdar and Michael O'Hara from JP Morgan Chase, and
Joseph Carmody from UBS AG.
The four-adviser team managed a combined $1.5 billion in
client assets and had annual revenue production of $6.1 million
at their previous firms, Morgan Stanley said.
A JP Morgan spokesman confirmed the departure of the team,
but declined to comment further. A UBS spokesman declined to
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 have joined the
firm's office at 522 Fifth Ave., reporting to branch manager
In Coral Gables, Florida, Morgan Stanley hired Al Maulini
and Joseph Torano from HSBC, where they managed $121
million in client assets and had $1.7 million in annual revenue
"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.
They both have the title of vice president and will report
to branch manager Sergio Alvarez-Mena.
In Allentown, Pennsylvania, Morgan Stanley hired brothers
Frank Marano and Donald Marano from Raymond James, where
they managed $100 million in assets and had $1.2 million in
annual revenue production.
A spokeswoman for Raymond James declined to comment.
The Maranos both have the title of vice president at Morgan
Stanley and will report to complex manager Richard Franchella.
In Atlanta, Morgan Stanley hired Jason Moss, an adviser who
managed $130 million in client assets and had $1 million in
annual revenue production at Bank of America Corp.'s
Merrill Lynch Wealth Management.
A spokeswoman for Merrill confirmed that Moss had left the
firm, but declined to comment further.
Moss has the title of senior vice president at Morgan
Stanley and will report to branch manager Michael Childs.
All these new advisers officially joined the company last
Friday, said Morgan Stanley, which had an adviser headcount of
16,321 at the end of the second quarter, down 157 from a year
earlier but up 37 from the first quarter.