By Brett Philbin
Retail brokerage joint venture Morgan Stanley Smith Barney recently hired financial advisers from Credit Suisse Group AG (CS) and Bank of America Corp.'s (>> Bank of America Corp) Merrill Lynch Wealth Management.
Last Friday, Bryce Kenny joined Morgan Stanley's Tampa, Fla. office from Credit Suisse's U.S. private banking business. Kenny, who reports to Complex Manager Dan Cedro, generated $2.6 million in fees and commissions and managed $475 million in client assets.
Before joining Morgan Stanley Smith Barney, Kenny worked at Credit Suisse for more than eight years, according to Financial Industry Regulatory Authority records.
Additionally, Morgan Stanley recruited Thomas DeRosa, a 10-year Merrill Lynch veteran, to its New York office on West 52nd Street. DeRosa, who reports to Complex Manager Gerald Ferrante, had about $1.3 million in annual production and $100 million in assets under management, according to a company spokeswoman.
A Merrill Lynch spokeswoman confirmed DeRosa's departure, but said his production was $991,000. A Credit Suisse spokesman confirmed Kenny had left the firm.
(STREET MOVES chronicles the migration of executives on Wall Street, with a particular emphasis on financial advisers with more than $1 million in annual production and who manage more than $100 million in client assets.)
-By Brett Philbin, Dow Jones Newswires; 212-416-2173; email@example.com