Funds News

UPDATE 1-Morgan Stanley adds advisers from Wells, Merrill

* M. Stanley Smith Barney hires four advisers in NYC

* Teams oversee combined $443 mln of client assets

* Rick Donovan promoted to Paramus complex manager (Adds hires from Merrill Lynch)

NEW YORK, Sept 16 (Reuters) - Morgan Stanley Smith Barney has hired two New York City-based adviser teams overseeing a combined $443 million of client assets.

Randall Caruso and Marco Oreamuno joined Morgan Stanley Smith Barney's office on Park Avenue from Bank of America Corp's BAC.N Merrill Lynch.

Caruso spent more than 16 years at Merrill Lynch, while Oreamuno spent five years at the firm, according to filings with the Financial Industry Regulatory Authority.

At Merrill Lynch, the pair oversaw $193 million of client assets and generated $1.8 million in annual fees and commissions, a Morgan Stanley spokeswoman confirmed.

Howard Horowitz and Ian Dietz joined Morgan Stanley's office on Lexington Ave. The pair spent more than six years at Wells Fargo & Co WFC.N, according to FINRA filings.

At Wells Fargo, the pair oversaw $250 million of client assets and generated $1.5 million in annual fees and commissions.

On Wednesday, Morgan Stanley Smith Barney, a joint venture between Morgan Stanley MS.N and Citigroup Inc C.N, also promoted Rick Donovan to complex manager in Paramus, New Jersey.

Donovan, who was previously manager of the Red Bank, New Jersey, branch, will oversee four branches with 162 advisers and $100 million in revenue.

He replaces Mike Price, who has left the firm. (Reporting by Helen Kearney; Editing by Lisa Von Ahn and Matthew Lewis)