ON THE MOVE-Morgan Stanley hires advisers from UBS

Mon May 5, 2014 4:50pm EDT

May 5 (Reuters) - Morgan Stanley's wealth management unit said on Monday that it hired veteran advisers from UBS AG for its Louisville office.

The advisors, J. Stuart Mitchell and Robert Schenkenfelder, managed about $715 million in client assets and had fees and commissions in excess of about $1.8 million at UBS.

A UBS spokesperson declined to comment on the departures. (Reporting By Neha Dimri in Bangalore; Editing by Joyjeet Das)

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