Morgan Stanley, UBS Shuffle Managers on East and West Coasts
Morgan Stanley Wealth Management and UBS Wealth Management USA have shifted veteran managers on the East and West coasts in another sign of wirehouses’ search for experienced talent to plug key geographic gaps.
She has been with Morgan Stanley and predecessor firms for almost 27 years, according to an internal announcement of her promotion from Northeast regional director Nelson Gaertner and to an internal corporate profile.
Ferri fills a hole in Greenwich left by Bradley Barber, who was elevated to New England regional director earlier this month. Like Ferri, he has been with Morgan Stanley and its predecessor firms for almost three decades.
Morgan Stanley opened another vacancy last week when it elevated Ben Firestein, a longtime complex manager in New York City, to head national recruiting. The newly created position underscores the wirehouse’s recommitment to hiring following a multi-year freeze, headhunters said, but exacerbated Gaertner’s New York-area field management talent challenge.
In December, he hired former Smith Barney Chief Operating Officer John Palazzetti to run a three-office complex manager in midtown Manhattan complex.
Morgan Stanley has not yet replaced Firestein at the two Manhattan branches nor named a replacement for Ferri in Purchase, which has about 90 advisors.
UBS, which has been choreographing a host of management moves since eliminating half of its sales divisions in December, also continues its redeployments.
Clare Kiesel, who had been managing its Wellesley, Mass., branch since 2017, has shifted to run the wirehouse’s six-office Silicon Valley complex, according to sources and to her LinkedIn profile. Kiesel has spent her entire brokerage career with UBS, beginning in 2011 as a summer analyst.
She replaces Robert Giordano in northern California. UBS shifted him to run a Dallas, Texas, complex whose former manager, Ben Tarantino, lost his position in the December field reorganization.
Kiesel’s Massachusetts branch is now being managed by Brittany Manganaro, a former branch manager in Concord, N.H., who has not yet been replaced, said sources at the offices.
UBS Wealth earlier this month appointed Jaron Singletary, a 17-year veteran of the Swiss-owned firm, to be complex manager of its West Los Angeles market. He replaced Michael Goldfader, who also vacated his post at the end of 2019 in the reorganization.
Spokespeople at UBS did not immediately return a request for comment.