Morgan Stanley said the firm recruited a Merrill Lynch advisor generating over $4 million in annual revenue.

Michael Wu joined Morgan Stanley Private Wealth Management as an international client advisor in Pasadena, Calif., where he reports to complex manager Cynthia Newman.

He oversees $355 million in client assets, according to the wirehouse.

Wu had been with Merrill since 2003, according to FINRA BrokerCheck records. Also moving with him is Jenny Tsai, director of business strategy.

A Merrill spokeswoman confirmed Wu's departure.

The move comes following Raymond James' announcement that it had recruited a team overseeing $1 billion in client assets from Morgan. Former wirehouse advisors Daniel Roland and Jason Miyashita joined Raymond James' employee channel in Maite, Guam.

A Morgan spokeswoman said the firm was closing its office on the Pacific island and declined to comment further.

Read more:

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access