Morgan Stanley nabs $1.5B J.P. Morgan team

This addition the latest in a string of high-profile, late-summer hires.

Aug 27, 2013 @ 2:24 pm

By Dan Jamieson

Morgan Stanley has landed a $1.5 billion team from J.P. Morgan Securities LLC in the latest in a series of high-profile, late-summer acquisitions.

Scott Siegel, a Barron's top 1,000 adviser, and his team of Mehmet Kirdar, Michael O'Hara and Joseph Carmody, have joined Morgan Stanley's New York City office, the company announced Tuesday.

The team moved last Friday from J.P. Morgan, with the exception of Mr. Carmody, who was recruited from UBS Financial Services Inc.

Known as the SKOC team at Morgan Stanley, the group has $6.1 million of trailing 12-month production, according to the firm.

Doug Morris, a J.P. Morgan spokesman, declined to comment.

Mr. Siegel and his branch manager, Michael Simeone, were not immediately available Tuesday.

A March Barron's profile said Mr. Siegel manages balanced portfolios and favors high-yield bonds of five to eight years, together with dividend and value stocks.

Last Friday, Morgan Stanley landed Atlanta-based Jason Moss, a former Bank of America Merrill Lynch broker with $130 million in assets, in addition to the Coral Gables, Fla., team of Al Maulini and Joseph Torano, who managed $121 million at HSBC Securities Inc.

Last Thursday, Morgan picked up brothers Frank and Donald Marano from Raymond James Financial Services Inc. The Allentown, Pa., duo manages $100 million.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

Behind the scenes of InvestmentNews' Best Places to Work

Benefits and vacation policies are important for hiring top talent, but giving employees a sense of ownership in decision-making is among the most important qualities, editor Fred Gabriel says.

Latest news & opinion

Finra anticipates oversight role for SEC advice rule

CEO Robert Cook says one area for examination could be the proposed requirement that brokers act in the best interests of their clients.

IBDs with the most CFPs

Here are the 10 independent broker-dealers that employ the most certified financial planner professionals.

Why we must create a more diverse and sustainable financial planning profession

CEO explains how, why a firm should commit to conscious inclusion.

Pope Francis wants financial advisers to work like fiduciaries

Vatican bulletin admonishes advisers who act against the best interests of their clients.

Wells Fargo sees slowdown in advisers exiting this year

The 2016 banking scandal and public relations fiasco had alienated some of the firm's advisers.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print