By Joseph A. Giannone
NEW YORK, Jan 10 (Reuters) - Morgan Stanley Smith Barney and Wells Fargo announced broker hirings on Monday amounting to a swap.
Morgan Stanley Smith Barney said it had hired Michael Kidd, a Wells Fargo Advisors LLC broker who generated $1.27 million of fees and commissions in the past year and advised clients with $305 million in assets. Kidd joined Morgan Stanley's Walnut Creek, California, office on Jan. 6.
Wells Fargo said it hired Morgan Stanley Smith Barney broker David Cooper for its office in Wichita Falls, Texas. Cooper, a 25-year veteran, generated $900,000 of revenue in the past year and had customers with $107 million in assets. He joined Wells last month.
Kidd started his career at Great Western Financial Securities and had been with Wells Fargo since 1993. He was joined in his move by an associate, Christopher Ceballos.
Cooper got his start at Merrill Lynch in 1985, later joining Lehman Brothers. He joined Morgan Stanley Dean Witter in 1990.
Morgan Stanley and Citigroup Inc formed the largest brokerage when they merged their wealth management businesses in June 2009.
(Reporting by Joseph A. Giannone; Editing by Gary Hill) Keywords: MORGANSTANLEY/WELLSFARGO (joseph.giannone@thomsonreuters.com; Tel: +1 646 223 6184; www.twitter.com/reutersjoe ) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
NEW YORK, Jan 10 (Reuters) - Morgan Stanley Smith Barney and Wells Fargo announced broker hirings on Monday amounting to a swap.
Morgan Stanley Smith Barney said it had hired Michael Kidd, a Wells Fargo Advisors LLC broker who generated $1.27 million of fees and commissions in the past year and advised clients with $305 million in assets. Kidd joined Morgan Stanley's Walnut Creek, California, office on Jan. 6.
Wells Fargo said it hired Morgan Stanley Smith Barney broker David Cooper for its office in Wichita Falls, Texas. Cooper, a 25-year veteran, generated $900,000 of revenue in the past year and had customers with $107 million in assets. He joined Wells last month.
Kidd started his career at Great Western Financial Securities and had been with Wells Fargo since 1993. He was joined in his move by an associate, Christopher Ceballos.
Cooper got his start at Merrill Lynch in 1985, later joining Lehman Brothers. He joined Morgan Stanley Dean Witter in 1990.
Morgan Stanley and Citigroup Inc formed the largest brokerage when they merged their wealth management businesses in June 2009.
(Reporting by Joseph A. Giannone; Editing by Gary Hill) Keywords: MORGANSTANLEY/WELLSFARGO (joseph.giannone@thomsonreuters.com; Tel: +1 646 223 6184; www.twitter.com/reutersjoe ) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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