The panel, which is in an early stage of development, would be similar to the international council at JPMorgan Chase & Co, the sources said. That group is led by former British prime minister, Tony Blair.
Advisers Rick Hughes, Harry Greenberg, Shawn Senior and Daniel Silverberg joined Morgan Stanley Smith Barney in Mt. Laurel, New Jersey, on Friday. They generated roughly $6 million in revenue last year.
He will develop and implement advanced planning strategies for clients, including preservation of capital, tax minimization and lifetime cash flow needs.
The US M&A and Capital & Debt Advisory team helps corporations and private equity firms improve their competitive position through Ernst & Young LLP's affiliated registered broker-dealer, Ernst & Young Capital Advisors.
Roy Kim, who traded adjustable-rate mortgages, left on his own accord with a similar exit deal, the people said.
Smith joined Pennsylvania-based Fulton Bank, the company’s flagship bank, as director of Human Resources in 1978.
Mr. Serventi, age 61, currently serves as Operating Partner at Summer Street Capital Partners, LLC, a private equity firm, and is the President of West Lake Management, an asset management firm.