June 27 (Reuters) - Brokerage firm Stifel, Nicolaus & Co said on Thursday it hired a veteran adviser from Morgan Stanley Wealth Management to join the firm’s private client group in New York.
Adviser Bruce Gould, who managed $374 million in client assets at Morgan Stanley, moved to Stifel on Monday. Gould joined Stifel’s Garden City office as a senior vice president of investments.
Gould, who has worked in the financial advice industry for more than four decades, is also a member of the New York Stock Exchange Hearing Board. He had been an adviser with Citigroup’s Smith Barney before joining Morgan Stanley.
Morgan Stanley Wealth Management, the largest U.S. brokerage, formed out of the merger of Morgan Stanley’s wealth unit and Citi’s Smith Barney in 2009. Morgan Stanley declined to comment on Gould’s departure.
Stifel, Nicolaus & Co is a subsidiary of St. Louis-based financial services holding company Stifel Financial Corp.
Stifel, which has benefited from the movement of veteran financial advisers away from larger national brokerage firms, said it added 152 advisers to its wealth management unit last year.