ON THE MOVE-Janney adds exec to New York office from BB&T

NEW YORK, Sept 3 Wed Sep 3, 2014 12:16pm EDT

NEW YORK, Sept 3 (Reuters) - Philadelphia-based brokerage Janney Montgomery Scott LLC said on Wednesday it hired a new vice president of investments for its New York City office.

Michael Coraggio, who officially started at Janney on Aug. 28, joined from BB&T Scott & Stringfellow, where he produced nearly $1.3 million in annual revenue and managed $115 million in client assets.

A spokeswoman for BB&T did not immediately respond to a request for comment.

Coraggio joins Janney's Whitehall Street branch office, near Wall Street, and will work alongside Complex Manager Michael Drumm.

Janney, owned by Penn Mutual Life Insurance Co, has about 735 advisers, primarily based on the East Coast, who manage more than $58 billion in client assets. (Reporting by Elizabeth Dilts; Editing by Dan Grebler)

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