Ten-member, $3-billion Latin America squad divided between Miami and Geneva. Morgan Stanley Private Wealth Management has lifted out a 10-member team of wealth-management specialists from Goldman Sachs in an effort to capture more in the way of high-wealth private-client assets in Latin America.

"We are committed to growing our private-wealth business globally, and are delighted that a team of this caliber is joining us to serve the Latin American market from Miami and Geneva," says James Gorman, president of Morgan Stanley 's Global Wealth Management group.

Biggest liftout

Six of the team members -- including "investment representatives" Diego de Lope Friedeberg, Angel Munoz Bonilla and Jaime Sanchez Yarza -- will staff a new office in Miami; the other four, based in Geneva, will develop Morgan Stanley's Swiss private-banking offering to Latin Americans.

"This is largest external team we have hired in Private Wealth Management, and the third major team we've added in the past two months to serve Latin America," says Gorman.

The new team -- which has "combined assets of $3 billion," according to a Morgan Stanley press release -- will report to Ernesto de la Fe, head of Morgan Stanley's Latin American private-client business.

"This team has worked together for many years and will be an important addition to our efforts in the region," says de la Fe. "The new office will primarily serve ultra-high-net-worth Latin American clients with $20 million or more in investable assets." -FWR

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