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Citi loses $500m LatAm advisor team to Morgan Stanley

Citi loses $500m LatAm advisor team to Morgan Stanley

Morgan Stanley Wealth Management has hired a team of four advisors from Citi to join its downtown Miami office, Citywire Americas has learned.

The advisor team is made up of Ricardo Bembibre, Rodolfo Garza, Juan Conway and Roberto Gamarra, all of whom are Citi veterans who each spent close to 20 years at the firm.

They registered with their new group on May 12, according to BrokerCheck. Morgan Stanley did not respond to a request for comment in time for publication.

The quartet worked at Citigold, one of the group's wealth management units, in its Miami office and ran over $500 million in assets for clients in Argentina, Mexico and Central America. Following them from Citi to Morgan Stanley are three sales associates: Claudia Landinez-Guzman, Franz Berdugo and team leader Liz Perez.

The seven-strong team is now working out of Morgan Stanley’s downtown Miami office on Biscayne Boulevard.

It has been a busy couple of months at Morgan Stanley as it continues its push to expand its international wealth unit. These latest hires come on the back of other recent arrivals, including the hire of UBS advisor Henrique Lucena, Deutsche Bank veteran Arturo Montemayor and Greg Gatesman, the former chief operating officer of Julius Baer.

The wirehouse also saw two advisor teams exit in April with one team heading to rival Merrill Lynch and the other to JP Morgan Securities.

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