The company said Yoichiro Hamaoka, who had run the property brokerage's business in Japan for the last 12 years, was stepping down and would take on the role of chairman.
"This is a great example of someone who was at a wirehouse for many decades and really had a strong desire to go independent," said Hiter, who now oversees Hanks.
Morgan Stanley Smith Barney, the largest U.S. brokerage, hired two veteran advisers from Merrill Lynch to its broker base, a source with knowledge of the move told Reuters on Wednesday.
Mr. Jackson is a veteran of the investment management business, with over 25 years of experience and 12 years at Cumberland. Most recently he was the firm's Vice CIO, is Lead Manager, Canadian equities, and also manages the Cumberland Total Energy Fu