A senior executive at Morgan Stanley Smith Barney has jumped ship for Merrill Lynch. Jimmy Tighe, former New York City regional director for Morgan has been hired by Merrill as managing director and business & resource integration executive at Merrill Lynch Wealth Management.
Tighe will report to Lyle LaMothe, head of U.S. Wealth Management, the firm’s U.S. retail brokerage business.
Tighe, who has over 30 years of experience in the financial services business, was a surprise pick to lead the join MSSB’s NY offices anyway, says Chip Roame, managing principal of Tiburon Strategic Advisors. Tighe was appointed to that position in May of 2009, having come over from Smith Barney in the merger. MSSB CEO James Gorman “is likely creating a management team more in line with his aptitude, of thoughtful strategically minded folks,” Roame added. “Going to ML gets [Tighe] a very different environment, led by someone who is publically claiming the old broker model will win out so likely values more the old guard than Gorman.”
“Jimmy brings additional senior leadership and deep industry knowledge to our team and will help to us to drive ongoing growth initiatives,” LaMothe said in a statement.
Christy Pollak, Morgan Stanley spokeswoman, said, “By mutual agreement, (Tighe) is leaving to pursue a different opportunity, and we wish him well.”