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A UBS Wealth Management USA team, the Gottlieb Rose Group, has transitioned to Morgan Stanley Private Wealth in New York City, bringing $10 million in annual revenue and managing $1 billion in assets. Led by Rachel E. Gottlieb and William J. Rose, the team specializes in serving clients in sports and entertainment. This move follows a trend of broker attrition at UBS, which has seen several teams depart recently.
Rockefeller Global Family Office has acquired two teams managing a combined $1.2 billion in client assets from Merrill Lynch and UBS Wealth Management USA. The larger team, Rhodes White Bazan Wealth Partners, based in Dallas, managed $1 billion and generated $8 million in annual revenue, while the Ladner Franz Wealth Partners group from Scottsdale managed $200 million with $2 million in revenue. This move is part of Rockefeller's strategy to expand its advisor teams, aiming for around 200 by year-end.
Deutsche Bank has extended CEO Christian Sewing's contract while announcing the departure of its deputy and another top executive as part of a management overhaul. This move solidifies the leadership team of Germany's largest lender as it embarks on the next phase of its turnaround strategy. The bank's modern history includes significant events such as its expansion into investment banking in 1989, the failed merger with Dresdner Bank in 2000, and the acquisition of Postbank in 2008, reflecting its evolving strategy and challenges over the years.
A wealth management team in Franklin, Tennessee, managing $600 million, has transitioned from UBS to LPL Financial’s employee channel for greater autonomy. Led by Austin L. Greer, the Oxford Oaks Capital group includes John T. Dunahoo and Stephanie DePries, while advisor James A. Austin III remains at UBS. This move reflects LPL's strategy to attract higher-end producers amid rising recruitment costs.
Dario Schiraldi, a seasoned banking executive with over twenty years in the financial services industry, has held significant leadership roles at Deutsche Bank, managing a €5 billion business unit and overseeing €750 billion in assets. After departing in 2016, he now leads VIDA Ventures and VIDA Holding, focusing on investments in technology, real estate, media, and food services. Schiraldi's career reflects a strong synergy of leadership and innovation, driving business value across various sectors.
Wells Fargo's wealth and investment management group is expanding its support for registered investment advisors (RIAs) by hiring Megan Hausmann as the RIA Solutions Director of Business Development, west. This move follows the hiring of another Apex Clearing executive, George Tamer, and reflects the firm's efforts to enhance its offerings for financial advisors, allowing easier transitions between its employee and independent broker-dealer channels. Industry experts suggest that this flexibility could be a significant advantage in attracting new talent.
A former Wells Fargo Advisors broker, Marc W. Torres, has been ordered to pay $2.2 million for failing to repay upfront loans after leaving for J.P. Morgan in 2022. The arbitration panel ruled against his claims of breach of contract and awarded Wells Fargo the full amount sought, including attorneys' fees and costs. This case follows a trend where brokers rarely succeed in contesting promissory note claims, as seen in similar clawbacks by other firms.
Jordan P. McLendon, a former broker at Raymond James & Associates, has accepted a bar from the industry following his termination for allegedly providing falsified information during the recruitment process. After nine months at the firm, he declined to cooperate with investigations into his discharge. McLendon, who previously worked with a significant book of foreign clients, has not registered with another firm since leaving Raymond James.
UBS CEO Sergio Ermotti defended his controversial 14.4 million franc salary for nine months of work, stating it reflects his performance and is comparable to industry standards. Despite facing criticism from political figures, he questioned why high salaries in business attract more scrutiny than those in sports and entertainment.
Julius Baer has appointed Stefan Bollinger, a 50-year-old Swiss wealth manager and Co-Head of Private Wealth Management EMEA at Goldman Sachs, as its new CEO, effective January 9, 2025. His selection comes amid challenges following a costly debacle with investor René Benko, but Bollinger's clean slate and personable nature may help rebuild client trust. This unexpected choice echoes the bank's past success with Boris Collardi, who navigated significant challenges during his tenure.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs wealth management team joins morgan stanley in new york city
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12:18 26.03.2025
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18:04 13.02.2025
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14:04 30.12.2024
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