April 18, 2016 / 8:21 PM / 2 years ago

CORRECTED-MOVES-(OFFICIAL)-BofA Merrill Lynch hires Morgan Stanley advisers

(In 2nd paragraph, corrects AUM amount to $675 mln from $550 mln)

By Tariro Mzezewa

NEW YORK, April 18 (Reuters) - Merrill Lynch Global Wealth Management, the wealth management arm of Bank of America Corp , hired seven advisers from Morgan Stanley, according to a statement released on Monday.

John Gatto, Kenneth Gatto and Matthew Hughes joined Merrill Lynch from Morgan Stanley. The Gatto Hughes Group had $675 million in assets under management and generated $5.3 million in revenue while at Morgan Stanley.

Kirsten Tuzzo and Blaine Minton, advisers with the Minton Tuzzo Group at Morgan Stanley, joined Merrill Lynch in Boca Raton, Florida. The pair managed $287 million in assets and generated $2.6 million in revenue while at Morgan Stanley.

Mark Karstaedt joined the Manhattan location of Merrill Lynch from Morgan Stanley, where he last generated $812,400 in revenue and had $147 million of assets.

Scott Uffelman joined the Pasadena, California, location from Morgan Stanley, where he generated $831,000 in revenue and had $185 million in client assets.

The statement also said Mark French and Kevin Parrill joined the firm from UBS, where their combined revenue was nearly $2 million with client assets under management of $239 million.

A spokeswoman for the bank said the hires took place over the last month. (Reporting by Tariro Mzezewa; Editing by Alan Crosby and Dan Grebler)

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