Morgan Stanley (NYSE: MS) announced on Friday that it had hired two high-producing broker advisors to join its Grand Rapids, MI, but lost an important manager out of its St. Louis office to Wells Fargo’ (NYSE: WFC) Wells Fargo Advisors unit.
Robert Tholl and Jerry Pearson both joined Morgan Stanley Smith Barney, a joint venture between Morgan Stanley (NYSE: MS) and Citigroup Inc (NYSE: C) from JPMorgan’s private wealth management unit.
Previously, the two executives generated $1.75 million in fees and commissions according to a Reuters report. Tholl spent nearly four years and Pearson spent 18 months at JPMorgan Private Wealth Management, a division of JPMorgan Chase & Co (NYSE: JPM).
Separately, Morgan Stanley Smith Barney is seeking to replace Kevin Whitehead, the company’s now former complex manager in St. Louis, who left on Friday to become the St Louis market area manager for Wells Fargo Advisors, a division of Wells Fargo & Co (NYSE: WFC). Whitehead had spent more than 14 years working at Morgan Stanley.
In his new position, Whitehead will oversee 13 Wells Fargo branches, according to a company spokesperson.
