Merrill Hires Morgan Stanley Team Managing $900 Million in Chicago

Merrill Lynch�s reinvigorated broker recruiting continues to gain traction as the firm hired a Morgan Stanley team managing $900 million in the Chicago

Merrill Lynch�s reinvigorated broker recruiting continues to gain traction as the firm hired a Morgan Stanley team managing $900 million in the Chicago suburbs and another managing $250 million near Sacramento.

The larger of the moves is a team led by Scott E. Davis and Thomas L. Benedict, who joined Merrill on Thursday in Northbrook, Illinois, according to an announcement from the hiring firm. They moved with client associates Candice McLaws and Lisa Papageorge and are part of the Chicago North market led by Marcus Jean-Simon.

Davis and Benedict had spent all of their 27- and 29-year careers at Morgan Stanley and its Smith Barney predecessor, according to their BrokerCheck records. The duo had been based at Morgan Stanley�s Glenview, Illinois branch and specialized in alternative investments and managing equity compensation, skillsets Morgan Stanley emphasizes as it looks to shuttle workplace customers to full-service advisors.

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