Merrill Lynch nabs $400M team from Morgan Stanley

Veteran advisers Michael Bromberg and Daniel Gerschel join in New York

Feb 20, 2014 @ 12:15 pm

By Mason Braswell

Bank of America Merrill Lynch has snapped up a former Morgan Stanley duo who oversaw some $400 million in assets.

The two advisers, Michael Bromberg and Daniel Gerschel, have joined Merrill Lynch's New York office.

They previously produced about $1 million in revenue while at Morgan Stanley, according to Merrill Lynch.

Advisers on the Move: Morgan Stanley's 2014 adviser departures

Both are industry veterans.

Mr. Bromberg began his career in 1995 and had been at Morgan Stanley since 2007, according to records with the Financial Industry Regulatory Authority Inc.

Mr. Gerschel started in financial services in 2002 and had been at Morgan Stanley since 2010, records show.

At Merrill Lynch they will report to Michael Simonds, complex manager for the Rockefeller Center Complex.


What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video


Top questions surrounding future of DOL fiduciary rule

Reporter Greg Iacurci and managing editor Christina Nelson discuss the biggest uncertainties springing from the Fifth Circuit Court of Appeals' decision to vacate the regulation.

Latest news & opinion

What the next market downturn means for small RIAs

Firms that have enjoyed AUM growth because of the runup in stocks may find it hard to adjust to declining revenues if the market suffers a major correction.

DOL fiduciary rule likely to live on despite appeals court loss

Future developments will hinge on whether the Labor Department continues the fight to remake the regulation its own way.

DOL fiduciary rule: Industry reacts to Fifth Circuit ruling

Groups on both sides of the fiduciary debate had plenty to say.

Fifth Circuit Court of Appeals vacates DOL fiduciary rule

In split decision, judges say agency exceeded authority.

UBS, after dumping the broker protocol, continues to see brokers come and go

The wirehouse has seen 14 individuals or teams leave and five join for a net loss of $2.4 billion in AUM


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 It'll help us continue to serve you.

Yes, show me how to whitelist

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


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print