BancPlus in Ridgeland, Miss., has hired two Morgan Stanley financial advisers to lead its new wealth-management unit.
The $2.6 billion-asset holding company for BankPlus hired Johnny Lang and Michael Taylor, both formerly of Morgan Stanley. Lang and Taylor will operate BankPlus' new wealth-management unit, WealthPlus. The new division exclusively serves clients classified as "ultrahigh-net-worth."
Lang and Taylor have about 200 clients with about $350 million in assets.
Lang and Taylor will "provide commission-based brokerage services and fee-based advisory services through" LPL Financial Holdings, the San Diego company said. LPL is the third-party broker-dealer for BankPlus.
This article first appeared in Bank Investment Consultant.