Morgan Lands Teams with $850M in Combined AUM
Advisors from Credit Suisse and Merrill Lynch who oversaw more than $850 million in combined client assets have joined Morgan Stanley, said the firm's spokeswoman.
Ex-Credit Suisse advisor Beth Scanlan joins Morgan Stanley's San Francisco office as executive director, portfolio manager and advisor. Scanlan's team managed more than $370 million in client assets while at Credit Suisse, the Morgan spokeswoman said.
Scanlan started her career at Dean Witter Reynolds in 1984 and moved to Lehman Bros. four years later, according to FINRA BrokerCheck records. She also had worked at Citigroup before joining Credit Suisse in 2009. Scanlan reports to Morgan Complex Manager Patricia Benner, and is joined by Carol Abraham and Calvin Fong, who also moved from Credit Suisse.
Another Credit Suisse grab, Jose Fincheltub, managed $107 million in client assets and was producing more than $1.1 million in revenue when he switched to Morgan, the spokeswoman said. Fincheltub started his career at Lehman Brothers in 2003 before joining Credit Suisse in 2008, according to FINRA BrokerCheck records. He is now based in Morgan's Aventura, Fla. office, reporting under Bill Van Scoyoc, its complex manager.
Merrill Lynch lost advisors to Morgan as well. Howard Wen, Lei Sun and Zhigang Shen
Howard Wen, an advisor with Mother Merrill since 1998, managed more than $179 million in client assets and had annual revenues of $1.7 million, the Morgan spokeswoman said. He now reports to Cynthia Newman in the Morgan Stanley Pasadena, Ca. complex, and works for the firm's international clients unit.
A former Merrill team comprised of Lei Sun and Zhigang Shen, who managed more than $190 million in client assets also left the wirehouse for Morgan, the firm's spokeswoman said. The duo had combined annual revenues of $1.8 million.
According to FINRA BrokerCheck records, Sun joined the industry in 1998 with Continental Broker-Dealer. He moved to Citigroup in 1999 before joining Merril in 2007.
Shen started at WMA securities in 1999 before moving to World Group Securities about 3 years later and Citigroup in 2004. Sun and Shen are now based in Florham Park, N.J., and report to branch manager Richard Donavan.
A spokeswoman from Merrill Lynch declined to comment on these moves and a spokeperson from Credit Suisse was not immediately available for a comment.