Ameriprise hires advisers from Morgan Stanley, PNC, UBS

NEW YORK Mon Dec 2, 2013 4:45pm EST

Jim Cracchiolo, CEO of Ameriprise, speaks to reporters at the Reuters Finance Summit in New York, November 14, 2005. REUTERS/ Chip East

Jim Cracchiolo, CEO of Ameriprise, speaks to reporters at the Reuters Finance Summit in New York, November 14, 2005.

Credit: Reuters/ Chip East

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NEW YORK (Reuters) - Ameriprise Financial Inc said Monday that it had hired two adviser teams and two individual advisers from Morgan Stanley, PNC Financial Services Group Inc and UBS Wealth Management Americas.

The advisers managed a total of $540 million in client assets at their respective firms.

Michael and Sidney Cooper, a father-son team, joined the firm's Manhattan office last Friday from Morgan Stanley, where they managed $200 million in client assets. The team had an annual revenue production of more than $1 million at Morgan Stanley.

Kevin Farrell and John Angiulli, who managed $160 million at PNC, also joined last Friday as independent advisers. The team also had more than $1 million in annual revenue production at their previous firm.

Ameriprise also landed James Carter, who managed $130 million at UBS, and Julie Lin, who managed $50 million at UBS. Both advisers joined Ameriprise's Woodland Hills, California office on October 25.

Ameriprise was not immediately available to comment on the annual revenue production of the two advisers while at UBS.

Morgan Stanley confirmed the departures, but declined further comment. PNC and UBS declined to comment.

(Reporting by Sam Forgione in New York)

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