Mr Lynn has joined MSSB’s La Jolla, California office, and now reports to complex manager Mark Kremers, according to the publication. While at Merrill, Mr Lynn – who had spent 18 years at the firm – is reported to have managed some $115 million in assets.

In a move in the opposite direction, last month news emerged that Jimmy Tighe, a high-profile MSSB veteran, had defected to Merrill Lynch Wealth Management to take up the role of business and resource integration executive.

Mr Tighe worked at Citigroup for 16 years before spending the last seven months at Morgan Stanley Smith Barney, where he was a regional manager overseeing the New York metropolitan area.

In his new role he reports to Lyle LaMothe, Merrill’s head of US Wealth Management.