Mark Donohue and Gordon Sommer, who managed $1.1 billion at Morgan Stanley, have joined J.P. Morgan Wealth Management.
Donohue will work in Palm Beach Gardens, Florida, along with two associates, and Sommer will be based in New York.
Donohue, who had been with Morgan Stanley for nine years, started his securities career in 1982. Sommer had also been with Morgan Stanley for nine years and started his securities career in 1981.
New chief executive Rich Steinmeier replaced Dan Arnold on October 1.
The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.
Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.
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Busy day for results, key data give markets concerns.
A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.
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