A Credit Suisse advisor who made $3.2 million in annual revenue joined his partner at Morgan Stanley as part of the firm's unit devoted to working with Latin American clients, a source familiar with the move said.

Hernan Gonzalez left Credit Suisse to follow his partner Francisco Montes, who jumped to Morgan earlier this month, said the source. The source did not have permission to speak publicly about the move and asked not to be named.

The advisors remained partners while moving at separate times, according to a plan they had agreed to, the source said. Montes generated a similar amount of revenue and together with Gonzalez oversaw more than $700 million in client assets while at Credit Suisse, the source said.

The team is stationed in Miami. A Morgan spokeswoman could not immediately respond to a request for confirmation. A Credit Suisse spokeswoman declined to comment.

Morgan Stanley has been scooping up recruits, seeking to bring on board as many as 75 advisors focused on Latin American clients. An exclusive agreement with Credit Suisse to hire 35 of the firm’s advisors who had a similar client focus has bolstered the effort. Credit Suisse began looking to transition the advisors after deciding it would pull its wealth management business out of the U.S. late last year.

A similar deal struck with Wells Fargo to hire the remainder of Credit Suisse's 250 U.S. brokers has triggered competing offers from rival firms, as well as a raiding claim against UBS.

Like Montes, Gonzalez was with Credit Suisse since 2003, according to FINRA BrokerCheck records. Prior to that, he worked at Donaldson, Lufkin & Jenrette and Goldman Sachs, BrokerCheck records show.

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