A Merrill Lynch market supervisor is returning to the East Coast to guide a Morgan Stanley department on Park Avenue, in line with a memo on Wednesday.
Fabio G. Concesi, who had led two Merrill places of work in Palo Alto, California, will be a part of Morgan Stanley as market supervisor for its 399 Park Avenue workplace in New York and report back to Market Govt Michael Simonds, in line with the memo, which was signed by Northeast Regional Director Nelson Gaertner. (Simonds joined Morgan Stanley in 2025 after spending 15 years with Merrill.)
Concesi replaces Gabriela Teran, a 16-year Morgan Stanley veteran who moved to guide its Morgan Stanley’s worldwide wealth enterprise serving Latin America.
Concesi, a local Brazilian, joined Merrill 10 years in the past from Citi in the past as a wealth strategist targeted on ultra-high web price planning in Miami. He turned an affiliate market government in Miami in 2023 and was elevated to run the Palo Alto market, which features a satellite tv for pc workplace in San Mateo, one yr in the past.
His California publish lined “certainly one of Merrill’s premier Silicon Valley markets with 160+ associates throughout two places of work,” in line with Concesi’s LinkedIn profile. He didn’t reply to a request for remark despatched by way of the social networking web site.
A spokesperson for Merrill declined to remark. The wirehouse final month landed a veteran Morgan Stanley supervisor to assist oversee branches in Connecticut, western Massachusetts and parts of New York.
Each corporations and their wirehouse friends have been shuffling and poaching discipline leaders to bolster recruiting in an more and more aggressive market. Merrill final week employed a Morgan Stanley lifer managing $1.5 billion in belongings in Boulder, Colorado.