Feb 4 Top U.S. brokerage Morgan Stanley Wealth
Management said on Monday it landed a veteran adviser from Wells
Fargo & Co and an adviser team from JP Morgan Chase & Co
, expanding the firm's presence in Colorado and New York.
The new recruits, who moved on Friday, managed a combined
$434 million in client assets at their old firms.
In Colorado, adviser Calvin Mason joined Morgan Stanley's
Pueblo office from Wells Fargo Advisors, the brokerage owned by
Wells Fargo & Co. Mason managed $144 million in client assets at
Wells and generated $1.4 million in annual revenue last year.
He reports to Morgan Stanley complex manager Thomas Octigan.
In New York, advisers Steven Sheresky, Jeffrey Sheresky and
Jeffrey Samsen joined Morgan Stanley's Midtown Manhattan office
from J.P. Morgan Securities, a subsidiary of JP Morgan Chase &
Co. The advisers, who have all worked in the industry for
roughly three decades each, managed $290 million in client
assets at the firm.
They report to Morgan Stanley complex manager Ben Firestein.
Morgan Stanley Wealth Management, majority owned by Morgan
Stanley and partially owned by Citigroup, is among
the largest U.S. brokerages by adviser headcount and assets
The firm is often neck-and-neck with Bank of America Corp's
Merrill Lynch in size, followed by Wells Fargo Advisors
and UBS Wealth Management Americas. The four firms often vie for
the same pool of top U.S. advisers.
JP Morgan declined to comment on the departures. Wells did
not immediately return a request for comment.