By Corrie Driebusch
Morgan Stanley (MS) has hired financial advisers who manage a
combined $650 million in client assets from the rival brokerage
arms of Bank of America Corp. (BAC) and UBS AG (UBS, UBSN.VX).
The D&L Group advisory team of Diane Alecci and Lynn
Blanchard has joined Morgan Stanley Wealth Management's Paramus,
N.J., office from Merrill Lynch. The team, which generated roughly
$2.9 million in fees and commissions annually on $500 million in
client assets while at Merrill, will report to branch manager Eric
Jansen.
Ms. Alecci had worked at Merrill for more than three decades and
Ms. Blanchard was with Merrill since 1985, according to Financial
Industry Regulatory Authority records.
Separately, Ralph Marra joined Morgan Stanley Wealth
Management's Shrewsbury, N.J., office from UBS Wealth Management
Americas. He previously managed $150 million and produced about
$2.1 million annually.
Mr. Marra had been employed at UBS since 2008, at which time he
joined from Merrill Lynch, according to Finra records.
A spokesman for Merrill Lynch and a spokeswoman for UBS
confirmed the departures but declined to comment further.
(Street Moves chronicles the migration of executives on Wall
Street, with a particular emphasis on financial advisers with more
than $1 million in annual production and who manage more than $100
million in client assets.)
Write to Corrie Driebusch at corrie.driebusch@dowjones.com
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