Turns out Shaw and Partners was not done when it lifted about 20 employees – and $3 billion in assets – from Morgan Stanley Wealth Management in November.

Street Talk understands Shaws has signed on three more MSWM advisers. Claudio Lopresti and Bianca Hogan have joined the mid-tier stockbroker in its Perth office, while Zoya Cernavin jumped ship in Melbourne. All three had been with the Wall Street bank’s local wealth business for nearly 15-years.

The moves comes after Shaws hired Ord Minnett’s father-and-son duo Danny and Zac Stent in January as well as Travis Hansen – all in Perth. Stephen Liu also left NAB to join Shaws’ Melbourne office.

Morgan Stanley Wealth Management’s move to pivot the business towards ultra high-net-worth clients has led to a raft of departures. The Rebecca Hill-led division now houses around 80 advisers, all of whom are focused on the bigger-ticket accounts.

Earl Evans-led Shaw and Partners has about 185 advisers managing $40 billion. EFG International, which is part owned by the Latsis Greek shipping family, bought a 51 per cent stake in the stockbroker in 2019 and has since built up to majority ownership.

Article source: AFR, 11 February