Recent industry movement and recruitment activity.
The group is led by Kevin E. McGuire, who had helmed the private bank’s Colorado Technology Vertical and Boulder Team from Denver.
A Salt Lake City-based team’s four brokers spent more than 100 years combined with the “Thundering Herd” before leaving for Raymond James’ employee channel in May.
The 10-person Chicagoland team had been managing $1.2 billion in assets, according to an announcement.
A New York City team generated $5.5 million; a team in Washington state, $3.8 million; and a 37-year industry veteran in Newport Beach, $2.7 million, according to sources familiar with the moves.
The wirehouse cited as the reason for the discharge: “loss of confidence in ability to continue in role due to failures to timely comply with management directives and an ongoing disregard for Firm standards relating to, among other things, email use and mandatory training.”
New York City-based duo includes Vincent Roth and John Fiorita, who had spent the majority of their careers going back and forth between Merrill Lynch and Morgan Stanley.
Two brokers had been generating $2.5 million in annual revenue, according to a source familiar with their practice.
The five-person team, led by brokers Hugh Fisher, Ross Woodring and Elmo “Skip” Zornes, left for Morgan Stanley on May 12, according to registration records.
A six-person San Francisco-based team with $10.5 billion is at least the eighth to make the private bank-to-UBS voyage since October.
John Calandro along with his brother, son and three associates joined Morgan Stanley on Friday and had overseen around $700 million in assets, three sources said.
Five-person team had been managing $800 million in customer assets, according to a person familiar with the move.