Morgan Stanley Raids Smith Barney for Wealth Management Hires

Christopher Owen

6 September 2007

Morgan Stanley has recruited several new advisors for its global wealth management group from Citigroup's Smith Barney unit. David McKay has joined Morgan Stanley's office in Clayton, Missouri. He will report to Kevin Whitehead, who manages the Gateway branch complex which has three offices in Chesterfield and Clayton in Missouri, and Shiloh in Illinois, and a total of 52 financial advisors. Mr McKay's total fees and commissions for the previous 12 months were $2.05 million and prior assets under management were $245 million. He started at Salomon Smith Barney in 1990. Morgan Stanley has also hired Bradley Barnes, David Couch and Lance Horton for its Bakersfield, California office. The team, which had combined production of about $2.22 million and prior assets under management of $340.3 million, will report to branch manager Rachell Fanucchi. Mr Barnes started at Salomon Smith Barney in 1993, Mr Couch started in 1995, and Mr Horton joined in 1994. Morgan Stanley further recruited a father and son team for its Seattle office. Thomas and Eric Lenze, whose combined production was about $1.54 million, and prior assets under management were $107 million, will report to branch-complex manager Jeff Mallula. Thomas Lenze worked at Smith Barney since 1993, and Eric Lenze since 2004.