NEW YORK Aug 4 Ziegler, a Chicago-based
specialty investment bank and broker-dealer, said on Monday it
hired Morgan Stanley's former Chicago office manager
to lead its wealth management division.
As senior managing director of Ziegler Wealth Management,
Robert Moats oversees 70 financial advisers at 15 branches with
a combined $4 billion in client assets.
Moats is a 27-year industry veteran who previously worked at
Citigroup and Lehman Brothers. Since 2009, Moats served as
head of Morgan Stanley's Chicago Merc office, where he oversaw
170 financial advisers who produced $180 million in annual
revenue, according to a Ziegler spokeswoman.
Moats left Morgan Stanley in June, according to registration
records with the Financial Industry Regulatory Authority.
A spokeswoman for Morgan Stanley confirmed Moats' departure
and said Kevin Forman had replaced him as complex manager for
the Chicago Merc office in May.
Forman was previously Morgan Stanley's director of the
Heartland Region in charge of several states in the U.S.
Midwest, including Illinois.
In April, Forman's position was eliminated in a
restructuring plan launched by managing director Shelley
O'Connor. The plan was meant to shrink the company's three
geographic divisions in the United States to two and to trim the
regions that report to the division heads to eight from 12
(Reporting by Elizabeth Dilts; Editing by Tom Brown)