A Merrill Lynch market manager is returning to the East Coast to lead a Morgan Stanley branch on Park Avenue, according to a memo on Wednesday.\u00a0<\/p>\n
Fabio G. Concesi, who had led two Merrill offices in Palo Alto, California, will join Morgan Stanley as market manager for its 399 Park Avenue office in New York and report to Market Executive Michael Simonds, according to the memo, which was signed by Northeast Regional Director Nelson Gaertner. (Simonds joined Morgan Stanley<\/a> in 2025 after spending 15 years with Merrill.)\u00a0<\/p>\n Concesi replaces Gabriela Teran, a 16-year Morgan Stanley veteran who moved to lead Morgan Stanley\u2019s international wealth business serving Latin America.<\/p>\n Concesi, a native Brazilian, joined Merrill 10 years ago from Citi ago as a wealth strategist focused on ultra-high net worth planning in Miami. He became an associate market executive in Miami in 2023 and was elevated to run the Palo Alto market, which includes a satellite office in San Mateo, one year ago.\u00a0<\/p>\n His California post covered \u201cone of Merrill\u2019s premier Silicon Valley markets with 160+ associates across two offices,\u201d according to Concesi\u2019s LinkedIn profile. He did not respond to a request for comment sent through the social networking site.\u00a0<\/p>\n A spokesperson for Merrill declined to comment. The wirehouse last month landed a veteran Morgan Stanley manager<\/a> to help oversee branches in Connecticut, western Massachusetts and portions of New York.<\/p>\n Both firms and their wirehouse peers have been shuffling and poaching field leaders to bolster recruiting<\/a> in an increasingly competitive market. Merrill last week hired a Morgan Stanley lifer managing $1.5 billion<\/a> in assets in Boulder, Colorado.\u00a0<\/p>\n