Industry

Morgan Stanley Wealth Management has snapped up a three-member team from Merrill Lynch with $1.3 million in production in the firm’s latest acquisition in its hunt for new advisory talent.

One month into their new relationship, Legg Mason Capital Management and ClearBridge Investments are merging two of its funds into one.

The regional firm expanded its presence in North Carolina with a new office and a $165 million team from Merrill Lynch.

Steven Prediletto of Merrill Lynch says he was first impressed by the financial advisory industry from observing his aunt, also an advisor, when he would spend his summers visiting New York while he was growing up in the 1980s.

Bank of America Merrill Lynch saw record new financial benefit plan assets in last year as it plans to strengthen that growth with a bigger push into the investment bank in 2013.

Forward Management welcomes a macro strategist and portfolio manager to its investment team.

The firm has added a team with $650 million in assets to build a presence in the City of Brotherly Love.

By focusing on the big picture, Merrill Lynch advisor Chad Pigg, number three on Top 40 Under 40 list, has found a niche advising top corporate and institutional accounts.

Bruce Stewart will lead the team in Boston and handle all Boston-related investment business.

After less than a year of striking out on its own, Pyxis Capital is right back to where it started.