People Moves
Six Leave Smith Barney for Morgan Stanley in US

Six US-based financial advisors have left Citigroup Smith Barney to join Morgan Stanley. The six are Robert Labriola Peter Maloney and David Sherman, all of whom were based in New York, along with Seraphim Rine, Steven Shapiro and Roy Savarick who are Florida based. The trio in New York generated more than $3.7 million in commissions and fees over the past year and oversaw almost $500 million in combined client assets, according to a Morgan Stanley spokesperson. Those in Florida have around $3.2 million in trailing-12 month production and managed $282 million in client assets at Smith Barney. None of the six movers came from branches to be affected by the restructuring at Smith Barney where four offices in Florida and Georgia are to close with the loss of 30 broker jobs. A further 39 branches are to be consolidated with other offices, according to media reports.