A UBS advisor who managed $650 million in client assets has left the wirehouse for Morgan Stanley, according to a source.
Juan Briatore moved $2.7 million in annual production while working at UBS' Coral Gables, Fla., office, before switching to Morgan earlier this month, the source said. He now works at Morgan's office in Miami, where he reports to Complex Manager Kevin McCarthy.
A UBS spokesman declined to comment. Meanwhile, a Morgan spokeswoman could not immediately confirm the Briatore's hire, which On Wall Street reports exclusively.
Briatore spent a dozen years at UBS before making the move, FINRA BrokerCheck records show.
Advisor Gustavo Dardik also left UBS' Coral Gables office for Morgan. The source said Dardik generated $1.9 million in annual production before making the move, and now works for Morgan's office in Aventura under Complex Manager Billy Van Scoyoc.
Dardik had been with UBS since 2004, according to BrokerCheck.
Earlier this month, Morgan Stanley lured away two advisors managing $223 million from UBS, a spokeswoman confirmed. Advisors Christopher Griffith and Henry Wheelwright joined Morgan's office in Norwell, Mass., which is a suburb of Boston. The advisors report to Bill Drew, Boston Harbor complex manager.