Morgan Stanley poaches American Indian wealth team

Morgan Stanley Private Wealth Management has poached a three-person team from fellow Wall Street firm Lehman Brothers Holdings Inc. to serve high-net-worth American Indian clients. The Lehman Brothers veterans, who will be based in Los Angeles, are investment representative vice presidents Bernard Machlovitch and Hans Maentz, along with sales associate Monica Aguilera. “We are extremely pleased that this team, who has built a very successful and comprehensive wealth management practice focused almost exclusively on Native American tribes, has decided to join Morgan Stanley,” Todd Locicero, Los Angeles regional manager, said in a statement. “Morgan Stanley Private Wealth Management is committed to further developing our coverage of Native American investment solutions, and Bernard and Hans will be critical to leading our efforts.” Morgan Stanley had $605 billion in assets under management May 31.