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Friday, January 16, 2015

ON THE MOVE-Lebenthal adds adviser, new office in Michigan, (NYSE: MS)

Lebenthal Wealth Advisors, the wealth management division of Lebenthal Holdings, said Friday it hired a financial adviser from Morgan Stanley who will open a new office in Birmingham, Michigan. William Burke, who started his career in 1983 at E.F. Hutton, joined Lebenthal earlier this month. Lebenthal did not disclose the assets Burke had under management at Morgan Stanley. However, Lebenthal Wealth Advisers, Lebenthals' year-old boutique division, works with high net worth and institutional clients.Michigan marks the family-owned firm's fourth office outside of New York.In December, Lebenthal added an adviser to the wealth adviser channel and an equity manager to its asset management channel.Morgan Stanley did not immediately respond with comment. (Editing by Diane Craft)

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.9% or $0.31/share to $34.89. In the past year, the shares have traded as low as $28.31 and as high as $39.19. On average, 9388200 shares of MS exchange hands on a given day and today's volume is recorded at 27047852.