Morgan Stanley LatAm advisor breaks away to join Bolton network

Morgan Stanley international advisor Randy Caruso-Reynoso has left the wirehouse to launch his own advisory firm on Bolton Global Capital’s independent platform.

Caruso-Reynoso had been with Morgan Stanley for nine years, where he covered primarily high net worth Latin American clients, and has now set up Caruso Capital Advisors, which will cater to individuals, families and institutional clients.

A spokeswoman for Morgan Stanley confirmed his departure.

According to a statement from Bolton Global, Caruso-Reynoso’s plan is to transition his global book of clients to BNY Mellon as custodian on behalf of Bolton.

Prior to joining Morgan Stanley in 2010, Caruso-Reynoso was at Merrill Lynch International for 17 years, where he oversaw a book of ultra-high net worth clients, family offices, middle markets, and institutional clients in Latin America, Middle East and North Africa, and Western Europe. 

He will run his business out of Bolton’s offices in Miami and New York, the firm said.

Over the past few months, three other Morgan Stanley advisors have made the jump to the independent model by either launching their own firm or joining a shop on Bolton’s independent advisor platform.

In June, New York-based international advisors Daniel Geller and Michel Palacci joined A Plus Capital from the wirehouse where they managed a combined $550 million for clients based in Brazil, Belgium, France, Switzerland and Israel.

At the start of the year, Marco Oreamuno left Morgan Stanley Private Wealth Management, where he oversaw $230 million for Latin American clients, to set up StratEdge Quant Investors out of Bolton’s Miami office alongside Alex Calvo from Biscayne Americas.

Bolton’s chief executive Ray Grenier told Citywire Americas in September that his group was looking to attract five more Miami-based advisors to its independent network by the end of the year.

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