Morgan hires high-net-worth leader from B. of A.

Morgan Stanley MS has recruited Michael Brakey from Bank of America Corp. BAC as head of high net worth lending in its latest move to build up its private banking unit. In an internal memorandum reviewed by Dow Jones Newswires, Shelley O'Connor, chief executive of Morgan Stanley Private Bank NA, and Mark Connolly, head of products for the business, announced the hire to employees on Tuesday.

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Source: Market Watch

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