UBS wealth unit snags high-earning teams
Continuing its recruiting initiative to bolster its financial adviser lineup, UBS Financial Services has poached two wealth management teams for its Dallas and Houston offices, bringing an additional $6.1 billion in client assets to the firm.
Continuing its recruiting initiative to bolster its financial adviser lineup, UBS Financial Services Inc. has poached two wealth management teams for its Dallas and Houston offices, bringing an additional $6.1 billion in client assets to the New York-based firm.
An 11-person team from New York-based Morgan Stanley with a combined $2.1 billion in client assets will make Houston their home base.
They are senior vice presidents Robert Mueller, Thomas Bres, Sean Cusack, Michael Dellinger and William Jackman, along with investment associates Brooke Caudell, Rohit Padmanabhan, Chris Szima, Toni Melinder, Kimberly Eastman and Maren Boudra.
Five advisers from New York-based The Goldman Sachs Group Inc., with $4 million in assets under management, will be based in Dallas. They are Jason Devening, William Diehl, Russell Crow, Greg Peroni and Kerry Wildenthal.
UBS Financial, the wealth management arm of Zurich, Switzerland-based UBS AG, began its aggressive adviser recruitment push in the wake of the collapse of New York-based Lehman Brothers Holdings Inc., adding approximately $11 billion in assets by hiring more than two dozen financial advisers specializing in high-net-worth clients from Lehman’s private investment management division. (InvestmentNews, Sept. 24).
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