Morgan Stanley (MS) said Thursday it recently recruited three UBS (UBS) advisors in New Jersey and Georgia with nearly $1 billion in assets and more than $8 million in yearly fees and commissions. The news comes about one week after Morgan Stanley Smith Barney recruited a New York-based team from Merrill Lynch (BAC) that managed about $1 billion in assets.
Brad Nettune joined MSSB’s office in Short Hills, N.J., from UBS on Oct. 28. Nettune, who now reports to complex manager Jeffrey S. Crystal, has more than $500 million in assets and yearly production of about $3.3 million.
The Rosenberg Group joined MSSB’s Atlanta-perimeter office from UBS on Nov. 2. The team includes advisors Mark D. Rosenberg, Fred Weingart and two staff members.
The Georgia-based team now reports to branch manager Chip Anderson. It has managed about $450 million in assets and had yearly fees and commissions of about $5 million.