Morgan Stanley has made its third round of hires from Lehman Brothers as the bank builds steam in its wealth management operations in Latin America with the addition of two investment teams.

The bank has been recruiting at a furious pace since Lehman veteran Ernesto de la Fe joined to head up the regional wealth management business last August. Morgan Stanley recruited five sales specialists last week from Lehman to join four ex-Lehman colleagues who came on board last month with a team of 10 from Goldman Sachs.