Morgan Stanley Smith Barney’s new recruiting deal seems to be turning some heads over at UBS, after it hired two million-dollar plus teams from the financial services company.
William Boynton joined MSSB’s State Street office in Boston. Boynton spent his entire 27-year career at Kidder Peabody, which was acquired by PaineWebber in 1994 and, in turn, was bought by UBS the following year. Boynton generated $1.1 million in fees and commissions.
Randall Ridenour, another $1 million UBS advisor, has also jumped to MSSB in Sarasota, Fla. Ridenour spent over eight years at UBS and prior to that spent 16 years at Prudential Securities.
Morgan Stanley Smith Barney is a joint venture of Morgan Stanley and Citigroup.
UBS has also lost one of its managers. Mike Witous was formerly the Western Michigan manager for UBS. On Wednesday he made the move to Oppenheimer to take up the position of regional manager for the whole of Michigan, according to a source familiar with the deal. He will managed 15 offices for Oppenheimer.
UBS recently cut its number of regions in Michigan from three to two as part of an overhaul of its regional structure.