The 2015 SEC filing also indicated holdings in over nearly 10 million Clearbridge American Energy and Clearbridge Energy MLP positions. By contrast, in 2014, Morgan Stanley held nearly 15 million Seadrill Limited shares. As of June 2017, these three are the only institutions that each hold over one million Seadrill shares in their various portfolios. Morningstar also lists Morgan Stanley Smith Barney LLC as Seadrill Partners' third-most major shareholder institution, presently behind Columbia Management Company and Prescott Group Capital Management. Morgan Stanley also recommended and held Cobalt International Energy in a global convertible bond fund, complete with a "you may potentially lose your entire investment in this fund" disclosure, according to. While FINRA did not identify the security, our investigation revealed several energy companies which might be the mystery investments, Linn Energy Master Limited Parntership (NYSE: LINE), Cobalt International Energy Inc (CIE), Seadrill Partners LLC (SDLP), and Seadrill Limited (NYSE: SDRL), and Clearbridge Energy Master Limited Partnership (MLP) are a few energy sector securities associated with Morgan Stanley.Īccording to a 2015 SEC filing, Morgan Stanley held over 25 million Cobalt International Energy notes and common stock shares at that time, making CIE one of the firm's largest energy sector holdings. Hunt, a 25-year Merrill veteran, had $1 million in annual production and $91 million in assets under management.FINRA suspended former Morgan Stanley broker Timothy Thomas Gibbons for unsuitable investment recommendations to five elderly and retired clients in their 70s, 80s, and 90s after Gibbons purportedly advised his customers to invest two-thirds to three-quarters of their funds in just one particular high-risk product.įINRA charged Gibbons (CRD #219872) with overconcentrating the accounts by recommending that his elderly customers invest 65-to-79% of their account values in a single high-risk energy sector security, resulting in nearly $1 million in losses between the accounts. William Bullock was a 35-year Merrill Lynch veteran, while Gayle Bullock worked there for more than 25 years, Finra records show.Īdditionally, Morgan Stanley hired Brandon Hunt, who is also based in Newport Beach. The team reports to Complex Manager Lance Million. The team had $2.4 million in combined production and managed $231 million in client assets. In Newport Beach, Calif., William Bullock and Gayle Bullock-the Bullock Group-joined Morgan Stanley from Merrill Lynch. Wong, a former Morgan Stanley employee, worked at Wells Fargo for more than eight years, while Ng spent more than six years at the firm, according to Finra records.Īll five advisers report to Patricia Benner, the firm's Silicon Valley complex manager. The two advisers had $3.1 million in annual production and managed $289 million in client assets. Other new hires in California include Jack Wong and Darryl Ng, the Wong Ng Team, who joined the firm's San Jose office from Wells Fargo. Te had roughly $1.3 million in annual production and $105 million in assets under management. Shao Te, a 10-year Wells Fargo veteran, also joined Morgan Stanley in Palo Alto. Before joining Morgan Stanley, Keng worked at Wells Fargo for more than 10 years, while Teng spent over nine years there, according to Financial Industry Regulatory Authority records.
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