Feb 19 UBS AG's Wealth
Management Americas has expanded its adviser force in New York
with a veteran hire from rival brokerage Morgan Stanley Wealth
Henry Berkley, who has worked in the advising industry for
more than three decades, joined UBS's Madison Avenue office in
Manhattan on Friday. He was previously based out of Morgan
Stanley's New York Plaza office and had an annual revenue
production of nearly $1 million.
Berkley had been an adviser with Citigroup and joined
Morgan Stanley Wealth Management, now the largest U.S.
brokerage, after the merger of Citi's Smith Barney and Morgan
Stanley's wealth unit in 2009.
Morgan Stanley declined to comment on the departure.
UBS Wealth Management Americas is the fourth-largest U.S.
brokerage. The firm often competes with Morgan Stanley Wealth
Management, Bank of America Corp's Merrill Lynch and
Wells Fargo Advisors for the same pool of top U.S. advisers.
Separately, Morgan Stanley said on Tuesday it hired former
Merrill advisers Nikesh Kadakia, Joseph Pastore and Kirk Snyder