Jimmy Tighe jumping from Morgan Stanley to Merrill Lynch

One of Charles Johnston's top lieutenants at the Morgan Stanley Smith Barney is apparently racing to the door to join Bank of America Merrill Lynch. Jimmy Tighe resigned this week to take a senior position at Merrill Lynch, sources said. The exact nature of his position at Merrill was not immediately clear. Mr. Tighe was picked to run the New York City regional operation for the wirehouse giant last April when Morgan Stanley and Smith Barney integrated their brokerage operations to create 20 regions. James Gorman, chairman of Morgan Stanley Smith Barney and president and chief executive of Morgan Stanley, has placed managers under pressure to increase assets, industry sources said. There have been other recent significant defections from Morgan Stanley Smith Barney. Strata Wealth Management Group, an advisory group in Rye, N.Y., that manages $500 million in assets, changed its affiliation Feb. 12 from Morgan Stanley Smith Barney to HighTower Advisors LLC. A number of executives at Strata had long associations with Morgan Stanley. Mr. Tighe “is leaving by mutual agreement to pursue a different opportunity and we wish him well,” said Christy Pollak, a Morgan Stanley Smith Barney spokeswoman. Matt Card, a spokesman for Merrill Lynch, did not comment about Mr. Tighe joining the firm.