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Recruiting Roundup: Merrill Attracts $3.5B Group, as UBS Draws $1B Team

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UBS added a billion-dollar team from Credit Suisse in the past week, while three private wealth advisors joined Merrill Lynch in Chicago with about $3.5 billion in assets.

Wells Fargo Advisors’ Financial Network picked up a team that had left UBS to go independent, and Summit Trail Advisors added a billion-dollar team in New York. Also, the Fort Pitt Capital Group joined Focus Financial Partners.

Wirehouse Recruiting Details

The team of Ross Kennedy, Richard Cantwell and Stephen Michael joined a UBS (UBS) private wealth management office in Boston, where they will be reporting to Maxwell Bardeen. The three were formerly at Credit Suisse, where they had about $1 billion in assets under management and yearly fees and commissions of production of $7.2 million.

Curtis Rach and Jud Crary, formerly of UBS, went independent and joined Wells Fargo FiNet (WFC) in Irvine, Calif. The team members have more than 36 years of combined industry experience and over $258 million in client assets.

Christopher Baldwin, Thomas Tyndorf and Andrew Skoglund recently joined Merrill Lynch’s Chicago office (BAC) from Credit Suisse, all as managing directors. They now report to Brett Thelander, private banking and investment group managing director.

At Credit Suisse they managed $3.5 billion in client assets.

Other News

Summit Trail Advisors says it has added a $1 billion advisory team in New York: Jerry Lucas, Megan Sclafani, Peter Gambee and Michael Cohen all joined as partners from Barclays Wealth.

U.S. Bank Wealth Management has announced that Todd Aquilina has joined the Private Client Reserve in Sacramento as wealth-management consultant.

Aquilina was formerly with Wells Fargo, where he served as a business development officer, private banker and mortgage loan officer.

Fort Pitt Capital Group has joined the independent wealth management firm partnership Focus Financial Partners. Fort Pitt is headquartered in Pittsburgh with an additional office in Bonita Springs, Florida, and is one of the largest registered investment advisors in Pennsylvania.

Read the Oct. 8 Recruiting Roundup at ThinkAdvisor.


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