Merrill confirms hiring of Morgan Stanley exec

Merrill Lynch Wealth Management confirmed today that Jimmy Tighe, who left Morgan Stanley Smith Barney this week, has joined the firm.

His title at Merill is managing director and business and resource integration executive, reporting to Lyle LaMothe, head of U.S. Wealth Management, the firm’s U.S. retail brokerage business.

Mr. Tighe was one of Charles Johnston’s top lieutenants at Morgan Stanley Smith Barney. He was picked to run the New York City regional operation for the wirehouse giant last April when Morgan Stanley and Smith Barney integrated their brokerage operations to create 20 regions.

There have been other recent significant defections from Morgan Stanley Smith Barney. Strata Wealth Management Group, an advisory group in Rye, N.Y., that manages $500 million in assets, changed its affiliation Feb. 12 from Morgan Stanley Smith Barney to HighTower Advisors LLC. A number of executives at Strata had long associations with Morgan Stanley.

Mr. Tighe “is leaving by mutual agreement to pursue a different opportunity and we wish him well,” Christy Pollak, a Morgan Stanley Smith Barney spokeswoman, told InvestmentNews on Thursday.