Paul Taubman, former president of Morgan Stanley, is no longer a solo practitioner in providing advice to corporations, CNBC's David Faber reports.
Taubman, who has been working alone and with great success for roughly the last year in advising clients such as Verizon and Comcast, has hired two senior bankers from his former firm, a fact confirmed by people at Morgan Stanley.
Taubman recently hired Robert Friedsam, Morgan Stanley's head of North American Communications Banking, who worked for Verizon on its purchase of the 45 percent of Verizon Wireless from Vodafone it didn't own (a deal on which Taubman also advised).
Taubman has also added Jim Murray, Morgan Stanley's head of North American Telecom Banking, to his growing, but as yet unnamed firm. Murray, a senior banker in his early 40s, has worked on advising clients in the wireless, satellite and technology sectors. Both men are said to have joined Taubman without being made whole on the deferred compensation they are leaving behind at Morgan Stanley.
Taubman would not comment on the recent hires.
After exiting Morgan Stanley in late 2012, his plans have garnered a good deal of attention within investment banking circles with many of the belief that he would start a new advisory firm.
But after taking some time off following his departure, Taubman has managed to bring in a veritable flood of fees without hiring anyone to work with him. His success was recently the subject of a front page New York Times story by the columnist James Stewart.
While his fledgling firm has now tripled in size, it's not clear whether Taubman will actively look to grow much larger at a rapid pace. Banking sources tell CNBC there is a good deal of demand for his services and his recent additions should allow Taubman to take on business he might have been turning away.
As it is, the banker managed to rank at No. 11 in the closely followed league tables in 2013 after advising Verizon on the biggest deal of that year and has been able to follow that performance up with the Time Warner Cable deal in 2014 for which he worked for its buyer Comcast.
Given the newly robust market for M&A, Taubman and his new colleagues may have more than their fair share of work.
Disclosure: Comcast is the parent company of NBC Universal.
-By CNBC's David Faber