Home Travel Morgan Stanley poaches $450m UBS LatAm advisor trio

Morgan Stanley poaches $450m UBS LatAm advisor trio


Three financial advisors have left UBS International to join wirehouse giant Morgan Stanley in two of its Miami area offices.

Andres Felipe Herrera, Carlos Arango and Carolina Cardenas worked in UBS’s Coral Gables office and each oversaw around $150m for Latin American clients, of which a good portion was for Venezuelan clients, according to sources familiar with the matter.

All three advisors reported to the head of UBS’s Coral Gables complex, Carlos Ortiz.

They left UBS at the end of last week and were officially registered with Morgan Stanley as of June 26, according to the Financial Industry Regulatory Authority’s BrokerCheck website.

Herrera joined UBS in 2014 from HSBC Securities and now works out of Morgan Stanley’s Miami downtown office. Meanwhile, both Arango and Cardenas, who had been at UBS for nine and 10 years, respectively, have moved to Morgan Stanley’s Coral Gables office, according to BrokerCheck.

A UBS spokesperson declined to comment to Citywire Americas. A spokesperson for Morgan Stanley did not respond to a request for comment in time for publication.

The trio’s departure follows a series of similar advisor departures from UBS’s Miami area offices in the past couple of months.

Last week, Citywire Americas reported on the exit of Francisco Fernandez who also left to join crosstown rivals Morgan Stanley.

Raymond James has also hired a number of UBS alumni, including wealth management veteran Stephen Sullivan and a $507m advisor duo in May.

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