Feb 19 (Reuters) - UBS AG’s Wealth Management Americas has expanded its adviser force in New York with a veteran hire from rival brokerage Morgan Stanley Wealth Management.
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 in California.