Regional brokerage Morgan Keegan has lost three more financial advisers to rivals in the past week, the latest in a score of departures since parent Regions Financial put the unit up for sale in June.Last Wednesday, Chris Wallace and Sarah Ehrlich left Morgan Keegan's Rockville, Maryland, office to rejoin Morgan Stanley Smith Barney in nearby Gaithersburg, FINRA records show.The duo, which generated $1.35 million of revenue in the past year, had left Morgan Stanley in early June to join Morgan Keegan -- just weeks before Regions announced it was putting the Memphis-based brokerage and investment banking unit up for sale.Morgan Keegan advisers on average generated more than $300,000 a year in commissions and fees, so the loss of a $1 million team is significant.
Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 2.34% or $-0.36/share to $15.02. In the past year, the shares have traded as low as $11.58 and as high as $31.04. On average, 37730000 shares of MS exchange hands on a given day and today's volume is recorded at 35170204.
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