Morgan Stanley Finds A New Manager For Its Scandalized Philadelphia Operation Hot

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LaRosa was promoted in December to run Philadelphia, only to disappear in May under a misappropriation of funds probe. He's since gone into consulting.


Now Richard Frick, formerly head of Wells Fargo Advisors' New York operation, has stepped up to fill his shoes.


Philadelphia is a big deal for Morgan -- 92 of its advisors cover a 10-mile radius around the city.


At about the time LaRosa left, his boss, Stephen Dimodica, headed out as well, driving the firm to dismember the regional post he once ran and divide the offices among other regional directors.


Dimodica still shows up in BrokerCheck as Morgan Stanley-registered.

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