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November 24, 2015 at 11:07 AM
UBS (UBS) continues to attract Credit Suisse advisors, as does Morgan Stanley (MS). Meanwhile, Raymond James (RJF) is recruiting teams from a variety of firms to its multichannel private client operations.
At UBS, two teams affiliated with Credit Suisse and managing a combined asset base of over $2 billion have come on board in California and Massachusetts.
In Century City, California, the team of Eric Miller, Barclay Perry, Stewart Bosley and Jason Holland will be reporting to Erich Frank. Formerly with Credit Suisse, the four advisors join UBS with the following trailing-12-month fees and commissions and recent client-asset levels: Miller, $3.7 million/$746 million; Perry, $528,000/$215 million; Bosley, $3.7 million/$745 million; and Holland, $504,000/$101 million.
In Boston, the team of Jeremy Seidman and Andrea Bevis will also report to Frank. Seidman has managed $212 million and has about $2.1 million in annual production, while Bevis manages $91 million and has yearly production of close to $1 million.
Morgan Stanley also nabbed a former Credit Suisse team, and now advisors Richard Zinman, Anthony Dertouzos and John Moreno are joining the wirehouse in New York, where they will report to Nelson Gaertner, Park Avenue complex manager. They advise clients with more than $5 billion in assets.
“We are pleased to welcome this exceptional team to Morgan Stanley,” said Vince Lumia, head of Morgan Stanley Private Wealth Management, in a statement. “They are well regarded in the industry, provide first class service to their clients, and are a welcomed addition to the firm.”
(Last month, Wells Fargo Advisors won the exclusive right to openly woo some 300 Credit Suisse advisors in the U.S. Over the past few weeks, though, rival firms have been quite successful at recruiting many of them.)
