Sam Vetas, one of Morgan Stanley's top producers in Salt Lake City, Utah, has moved to UBS Securities, where he will be a senior vice president, remaining an advisor. After 13 years at Morgan Stanley, Vetas' practice had grown to more than $100 million in assets, according to sources. He moved to UBS on May 28 of this year, according to the NASD database.
Joe Biondo Sr. recently went independent from Smith Barney, opening Biondo Investment Advisors in Milford, Pa., where he had been with Smith Barney for 11 years. Biondo Investment Advisors, which has about $400 million in assets, provides customized portfolio management to high-net-worth clients.
In a move to boost its already formidable compliance department, Raymond James Financial Services has hired Don Runkle to head its compliance department. Runkle has worked for RJFS since 1993 as a senior compliance officer, and his new role as chief compliance officer will put him in charge of all compliance activities. Runkle previously did work for the NASD and once was an advisor for A.G. Edwards.
Former Morgan Stanley branch manager Roger Keats, who left the firm in April, has joined Merrill Lynch as a financial advisor. Keats worked at Morgan Stanley for nine years, where he was most recently branch manager at the Winnetka, Ill., office, which was recognized as the top office in the Midwest region in terms of production and revenue goals. Keats is working out of Merrill Lynch's Northbrook, Ill., office, under branch manager Pat McCallister.
Former Registered Rep. columnist Harry Pappas has switched firms, moving to Wachovia Securities from Smith Barney, where he worked for 17 years. Based in Ponte Vedra Beach, Fla., Pappas heads the Pappas Wealth Management Group, which includes a financial consultant, Casey Middleton and two registered account associates, Amy Davidson and Lisa Della Rocco.
Larry Sullivan has been named vice president and national accounts manager of institutional sales for Cincinnati-based Ohio National Financial Services. Sullivan comes to the firm from Legg Mason, where he worked for 19 years, leaving as the firm's senior vice president of its broker/dealer division.