(Reuters) - Morgan Stanley Wealth Management said Monday it hired a veteran adviser who managed $350 million in client assets at Deutsche Bank.
Martin Domres, who joined Morgan Stanley in Baltimore on Friday, produced over $2 million in annual revenue at Deutsche Bank. He reports to Morgan Stanley branch manager Scott Boylan.
Deutsche Bank AG declined to comment.
Domres had worked for Deutsche Bank and its predecessor firms since 1990. Prior to that he was with A.G. Edwards & Sons Inc., according to regulatory filings.
Morgan Stanley’s adviser headcount stood at 16,321 at the end of the second quarter, down 157 from a year earlier but up 37 from the first quarter.
Reporting By Jennifer Hoyt Cummings; Editing by Leslie Adler