Morgan Stanley surprised investors with a $911 million loss tied to the collapse of Archegos Capital Management, staining what was otherwise a record quarter for revenue and profit.
Thomas, a former NFL player who had overseen a Merrill complex in Florida for the past two years, is returning to California to take over Morgan Stanley’s Menlo Park branch.
Four-person group had been overseeing $400 million in client assets and underscores Morgan Stanley’s revived recruiting focus.
Broker who had been managing $1 billion in client assets is said to have been forced out of wirehouse after admitting to placing a listening device in his former partner’s office.
Christopher Armstrong and Randall Kiefner, fired from Morgan Stanley just weeks after joining from Charles Schwab & Co., seek $25 million in malpractice suit against law firm that advised on the transition.
Dominique Jordan, 30, and Isaac Richard III, 28, who were profiled in August for being one of Morgan Stanley’s youngest-ever Black teams, mark the third group to join First Republic this year.
Michael Barry Carter, a former Morgan Stanley broker, is heading to federal prison for five years for bilking investors out of at least $6.15 million.
A top-ranked New Jersey broker at wirehouse was ushered out on Tuesday for what sources said were policy violations that did not involve customers.
Ex-Morgan Stanley regional manager Ronald Thacker, who left the wirehouse in January last year, has resurfaced as president of Houston-based registered investment advisory firm, Americana Partners.
Escalating recruiting wars it had abandoned, Morgan Stanley has been pitching some multi-million-dollar teams with signing bonuses triple their annual revenue, according to headhunters.
Morgan Stanley plans to offer wealthy clients access to three funds that will enable ownership of Bitcoin, according to a person familiar with the matter.