Saturday, 7th November 2009

 

Morgan Stanley's wealth unit hires two senior managers

Morgan Stanley Private Wealth Management has hired two senior investment advisers for Israel and Dubai.

Nadim Shabsogh joins as an investment adviser and an executive director based in Dubai. He will partner with Kheiry Amr.

He comes from Bear Stearns in London, where he had responsibility for Middle East private client relationships and helped coordinate the firm's institutional coverage for the region.

Udi Oz joins from Lehman Brothers in London, and will be an investment adviser and vice president covering the Israeli market. He will be based in Zurich.

At Lehman Brothers he was director in the private investment management group, responsible for business development in Israel, with a focus on ultra-high net worth clients and family offices.

Prior to that, Udi was also based at the private client group at Bear Stearns.

In May, Jack Doerge and Chad Smith, two of Bear Stearns’ senior private bankers, joined Morgan Stanley’s Private Wealth Management office in Chicago.

Tags: Bear Stearns , Morgan Stanley Private Wealth Management

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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