UBS (UBS) said Friday that it would nominate two new board members at its annual meeting in May. The company, set to release earnings early on Tuesday, also said recently that it hired more than 20 advisors from rivals Bank of America (BAC) and Morgan Stanley Smith Barney (MS) with about $3 billion in combined assets under management and $18 million in yearly fees and commissions.
The UBS board of directors plans to nominate Beatrice Weder di Mauro and Isabelle Romy for election as new members on May 3. Current board members Bruno Gehrig and Kaspar Villiger will not stand for re-election. Axel Weber, who supports both nominations, will stand for election as chairman, as was announced in November.
Beatrice Weder di Mauro has been a professor of economics at the Johannes Gutenberg University of Mainz since 2001 and is a member of the German Council of Economic Experts and the European Advisory Group of the IMF.
Isabelle Romy is a partner at the Swiss law firm Niederer Kraft & Frey and is an associate professor at the University of Fribourg and at the Federal Institute of Technology in Lausanne, as well as a former a deputy judge at the Swiss Federal Supreme Court. Since 2002, she has been a member of the Sanction Commission of the SIX Swiss Exchange and has been its vice chairman since 2008.
In January, UBS recruited eight groups of FAs and several individual advisors to its Wealth Management Americas unit, led by former-Merrill Lynch executive Bob McCann, left.
A group led by Margaret Baldwin in Newport Beach, Calif., and Michael Naples in Pasadena, Calif., joined from Bank of America-Merrill Lynch with production of $2.4 million and assets of more than $470 million.
Also, the Reckinger Loynes Group joined UBS’ Newport Beach office from Merrill Lynch with roughly $1.3 million in yearly fees and commissions and assets under management of $387 million.
Lucie Sabella and Megan MacGowan left Morgan Stanley Smith Barney to become part of UBS’ Fort Lauderdale, Fla.-office. They should add some $1 million in production and assets of $117-plus million.
In Georgia, Bruce Smith joined UBS from Bank of America-Merrill. His trailing-12-month production is about $1.95 million and his assets under management are more than $100 million.
The Kuchta Curole Group came to the New Orleans UBS branch from Merrill with some $2.4 million in fees and commissions and assets under management of $650 million.
John Meldrum joined UBS’ Troy Complex in Michigan from Merrill with production of nearly $1.6 million and assets of more than $119 million.
In New Jersey, Maria Tanzola and Carolyn Finer moved to UBS from Bank of America’s private bank with yearly fees and commissions of some $1.2 million and assets of $180 million.
Jamie Rosica and Alex DiMartini joined UBS’ Melville, N.Y. office from Morgan Stanley. The two have combined production of roughly $1.2 million and assets of more than $119 million
Two ex-Merrill groups have joined UBS WMA’s Beaumont, Texas office from Merrill Lynch with about $3.8 million in production and assets under management of more than $600 million.
In addition, Marc Hagger and Ricardo Lima moved to UBS’ Dallas office from Morgan Stanley with roughly $1.1 million in yearly fees and commissions and assets under management of nearly $230 million.
In Utah, the Sage Group joined UBS’ Salt Lake City office from Morgan Stanley. Production and asset figures for the group were not disclosed.
Analysts expect UBS to report fourth-quarter 2011 earnings per share of $0.25 on revenues of $8.61 billion. The company’s EPS was $0.32 in the third quarter and $0.35 a year ago.