UPDATE 1-Deutsche Bank hires advisers from UBS, Morgan Stanley
NEW YORK, July 7 (Reuters) - Deutsche Bank AG (DBKGn.DE) has hired several senior advisers for its wealth management operations from UBS AG (UBSN.VX) (UBS.N) and Morgan Stanley (MS.N), a person familiar with the matter said.
Brett Kellam was named a managing director and regional executive for the New York office of Deutsche Bank Alex. Brown, the German bank's U.S. private client business.
Kellam has more than 25 years of financial services experience, most recently at UBS, where he was a managing director and chief operating officer of the U.S. equities distribution team. He will report to G. Haig Ariyan, eastern regional head of the private client unit, the person said.
A UBS representative did not have an immediate comment.
Separately, Deutsche Bank hired financial advisers Bill Grous, Steven Grill and Alex Christon and sales assistants Shari Mason and Peter Roman from Morgan Stanley, the person said. All five work in New York, the person said.
The person declined be named because the hirings have not been announced publicly. Deutsche Bank declined to comment. Morgan Stanley spokeswoman Christy Pollak confirmed the five departures from that company, but declined further comment.
Non-U.S. banks have begun to ramp up hiring as U.S. rivals come under increased scrutiny by politicians and regulators, including over pay packages.
Last month, Morgan Stanley took an initial 51 percent stake in a joint venture combining its brokerage business with Citigroup Inc's (C.N) Smith Barney unit. (Reporting by Jonathan Stempel; Editing by Phil Berlowitz)
