The recruiting wars raged on Tuesday as Merrill Lynch lured a million-dollar producer from Morgan Stanley, and Morgan Stanley, in turn, recruited an adviser from Merrill, plus a team from UBS AG.

The Merrill unit of Bank of America Corp. said it recruited Daniel Honan to its office in Portland, Maine, from Morgan Stanley. Honan, a 24-year veteran, generated about $1.4 million in production on assets under management of $180 million, according to Merrill.

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