By Corrie Driebusch
Morgan Stanley (MS) has recently recruited brokers from rival
firms, including Wells Fargo & Co. (WFC) and Bank of America
Corp. (BAC), whose combined annual production approaches $7 million
in fees and commissions, according to their new employer.
Linda Goodson started working in Morgan Stanley Wealth
Management's Palm Harbor, Fla., office on July 3. She came from
Wells Fargo Advisors, where she generated $1 million in fees and
commissions on $110 million in client assets, according to Morgan
Stanley.
Ms. Goodson joined Wachovia in 2003 and remained with the firm
through its merger with Wells Fargo, Financial Industry Regulatory
Authority records show.
Also joining Morgan Stanley in Florida is Dante Neyra, who began
working at the firm's Ft. Lauderdale, Fla., office on June 27. He
worked for Bank of America's Merrill Lynch, where he generated
roughly $1.1 million in fees and commissions annually, his new firm
said. Mr. Neyra started at Merrill Lynch in 1999, according to
Finra records.
Richard Duffy and Russell Kwok left JP Morgan Chase & Co.
(JPM) in late June to join Morgan Stanley in Los Angeles. The team
generated $3.5 million in annual production, a Morgan Stanley
spokeswoman said.
Brian Purcell started working at Morgan Stanley's Santa Rosa,
Calif., office on June 26. Before the move, he managed $115 million
in client assets at Merrill Lynch and generated $1.3 million in
fees and commissions, his new firm said.
A spokesman for JP Morgan didn't immediately respond to a
request for comment. A spokeswoman for Merrill Lynch confirmed the
departures but declined to comment further, and a spokeswoman for
Wells Fargo said she couldn't confirm Ms. Goodson's departure.
(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 those who manage more than
$100 million in client assets.)
-Write to Corrie Driebusch at corrie.driebusch@wsj.com
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