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Industry Spotlight > Women in Wealth

Recruiting Roundup: UBS Adds $5B Team From JPMorgan, Advisor From Merrill

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UBS (UBS) picked up a team of advisors from JPMorgan (JPM) and an advisor from Bank of America-Merrill Lynch (BAC) over the past week. Wells Fargo Advisors (WFC) also added a rep from JPMorgan, and Ameriprise Financial (AMP) recruited four advisors from Wells Fargo.

In addition, Omnia Family Wealth, a $1.4 billion firm, has launched; Dawn Ripke became wealth management advisor at the Private Client Reserve; and Arturo Diaz joined Aegis Capital Corp.

UBS News

UBS recruited the team of Alli McCartney, Miguel Hennessy, David Wardrop and Jordan Mahaffey from JP Morgan, where they had about $5 billion in assets under management. They now report to Chris Amo, complex director at the New York private wealth management office.

Hennessy, a 30-year industry veteran, spent 13 years at Morgan Stanley, then held various roles in private equity before joining J.P. Morgan in 2007. McCartney has 16 years of industry experience, and was at Lehman Brothers and Neuberger Berman before moving to JPMorgan.

Mahaffey and Wardrop each started their careers in wealth management at Merrill Lynch’s private banking group prior to moving to JPMorgan.

In addition, UBS also snagged million-dollar advisor James Lipari from Merrill Lynch, where he had approximately $230 million under management. He’ll be reporting to Mike Mimick, complex director and will be the producing branch manager at Kansas City Plaza.

His team will consist of Margaret “Pegi” Prescotte, senior wealth strategy associate, who joins from Merrill Edge; Kay Buel, client service associate, who also joins from Merrill Lynch; and Alin Frentzen, financial advisor, who comes from Wells Fargo Bank.

Wells Fargo Movement

Christopher Hill left JPMorgan, where he oversaw nearly $2 billion, for Wells Fargo Advisors’ wealth-brokerage services division as a senior vice president in Miami. Hill joined JP Morgan’s investment bank in mergers and acquisitions in 2008, later moving to J.P. Morgan Private Bank in New York. He also spent time with Banco Espirito Santo and BNP Paribas.

On the flip side, four advisors with combined AUM of nearly $415 million departed from Wells Fargo to join the employee channel at Ameriprise in Sacramento. Glenn Kenes, who had managed close to $190 million; David Odom, whose AUM totaled almost $107.4 million; Richard Barber with $63.3 million; and Clare Hiatt with $54.3 million.

(Kenes and Barber formed an advisor team).

Omnia Family Wealth

Multi-family office Omnia Family Wealth has opened for business near Miami in Aventura, Florida, and is partnering with Dynasty Financial Partners for its investment platform, and Fidelity and Pershing for custody services.

Omnia was founded by Steven and Michael Wagner, former private wealth advisors at Merrill Lynch. Ivan Hernandez is co-founder and managing director, wealth structure and planning; Diana Torre, director of client services; and Cherie Cohen, director of operations, also from Merrill Lynch, where the group had worked together as a team; they were also a team previously at UBS.

Other News

U.S. Bank Wealth Management has announced that Dawn Ripke joined the Private Client Reserve as wealth management advisor in Milwaukee.

Ripke, with more than 25 years of banking and financial services industry experience, was previously a wealth advisor with BMO Harris Private Bank, also in Milwaukee.

Read the Sept. 2 Recruiting Roundup at ThinkAdvisor.


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