Morgan Stanley MS has hired First Republic Bank FRC wealth advisor Steven Levine in another departure from the troubled bank, Barron’s reported late Wednesday. Citing two people familiar with the situation, Barron’s reported that Levine has joined Morgan Stanley in Palm Beach, Fla. The publication reported that Levine was ranked in the Barron’s Top 1,200 Financial Advisors for 2023, with a four-person team that managed $2.3 billion as of Sept. 30. First Republic stock is down 0.4% in premarket trades. The stock has fallen about 90% this year amid jitters about a drop in deposits after the collapse of fellow California lender Silicon Valley Bank.
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