The trade cycle continues as wirehouses and regionals continue to see advisors come and go.
Wells Fargo hired a team from Morgan Stanley Smith Barney. Richard Moore, Joseph Hurston and Robert Simmons joined Wells Fargo’s Hattiesburg, Miss. office, effective this month. Together the team generated $1.2 million in fees and commissions and managed more than $192 million in client assets, according to the company.
FINRA filings indicate that Moore, Hurston and Simmons spent more than three years at Citigroup and roughly one year at MSSB.
Meanwhile, Barclays Wealth hired Don Milich and Clifford Wang from Morgan Stanley's Private Wealth Management Group. Barclays has said that it hired 50 investment representatives last year and plans to add more than 100 throughout the U.S. before the end of this year.
The new pair served as investment representatives at MSSB’s Atlanta operation where they worked for one year, according to FINRA filings. Barclays Wealth Chief Mitch Cox said in a press release that the new hires have a "deep understanding of the regional [wealth management] business."
Milich and Wang will report to Linda Eydt, manager of Barclays Wealth's unit in Atlanta.
Also making a move, Navtej Nandra was recruited as the head of Morgan Stanley Investment Management International, part of the asset management division of the company.
Before the MSIM move, he was the head of Diversified Financial Services and the chief operating officer of Merrill Lynch's Global Wealth Management division. And prior to that, he served as chief operating officer of the firm's Global Investment Bank, according to MSIM.
Also leaving Merrill Lynch for Morgan Stanley Investment Management, Jim Janover and Sara Furber were hired, respectively, as the Managing Director and global head of risk, and chief operating officer of its long-only business. Janover spent more than 20 years in various sectors in the brokerage joint venture while Furber has more than 10 years of experience in the industry. Meanwhile, Lisa Jones became the Managing Director of global head of sale in July for Morgan Stanley Investment Management. She joins the firm from Institutional and International Sales for Eaton Vance.