Morgan Stanley isn’t done poaching from UBS’ prime brokerage.
The Wall Street giant has hired John Carlisle to head distribution efforts at its new prime brokerage office in Dallas, Reuters reports. Carlisle had served as head of UBS prime services’ southwest region, having helped build the firm’s business in that region since 2001.
Carlisle will start at Morgan Stanley in October. When he arrives, he’ll be greeted by a familiar face: Alex Ehrlich, global head of prime services at UBS until last month, now leads Morgan Stanley’s prime brokerage business.
In a strange bit of prime brokerage musical chairs, the man who Ehrlich replaced at Morgan Stanley, Stuart Hendel, has replaced Ehrlich at UBS.