Merrill Lands $13B Institutional Team From Morgan Stanley

Merrill Private Wealth Management has secured a 14-person advisory team from Morgan Stanley's Graystone Consulting. This group manages over $13 billion in client assets and brings extensive experience working with ultra-high-net-worth families, entrepreneurs, corporate executives, and retirement plans.

The team includes advisors Alfred Hammond, Matthew McLaughlin, Anthony Mancini, Peter J. Ciovacco, Scott Tobey, and Michael Egan, alongside eight support staff members. They have been fixtures at Morgan Stanley since at least 2009. The group is now based in an office overseen by Greg McGauley, who leads Merrill Private Wealth Management, International and Institutional.

This move acts as a strategic shift for Merrill. The firm recently lost a significant institutional practice to the independent registered investment advisor market. Adding this team strengthens Merrill's institutional capabilities after the departure of OpenArc Corporate Advisory last year.

Merrill continues to pursue growth in the institutional space while managing complex client needs. This addition is part of a broader effort to capture top-tier talent in the wealth management sector. Morgan Stanley has not provided a comment on the transition of this institutional consulting team.