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Swings and Roundabouts - Smith Barney Wins Two Teams in US

Stephen Harris

10 July 2008

As Smith Barney lost a $4 million team to Morgan Stanley, reported elsewhere in WealthBriefing, it pulled in another team: Drew Dusebout, Brett Grimes and Ricci Mancinella have joined its office in Santa Barbara. They came from the Santa Barbara office of UBS, where they had fee income of $4 million and looked after $1 billion in client assets.

Smith Barney have also hired a $5 million team from Morgan Stanley in Illinois. Eugene Lerner, Michael Stoken, Walter Gondeck and Mingdong Tan joined Smith Barney's Deerfield office. They oversaw a combined $505 million in client assets.