UBS Private Wealth Management recruited two advisors with about $6 billion in total assets and some $20 million in yearly fees and commissions from Goldman Sachs.
Based in the Boston and Los Angeles areas, Denis J. Cleary and Gregory M. Devine — who each spent over a decade at Goldman — are making the move, along with analysts Abigail Harris, Seamus O’Neill, Mindi Chen and Christopher Carbone.
“Known for being one of the largest teams in the country under the age of 50, we’re proud to have them on board here at UBS to bring a differentiated view for our clients,” said John Mathews, head of Ultra-High Net Worth Americas and Private Wealth Management at UBS, in a statement.
Earlier in his career, Denis was a corporate attorney at an international law firm. He was named a managing director at Goldman in 2017. Gregory previously worked in Silicon Valley and became part of Goldman’s Advisory Council in 2017.
“We are excited to welcome Denis, Greg and their team to UBS,” added Max Bardeen, complex director of Boston PWM at UBS, in a statement. “The team’s commitment to our community will be a welcome addition to our market. There is no doubt that our highest expectations will be exceeded.”
UBS Americas ended 2018 with close to 6,550 vs. 6,850 in 2018.
In late January, the wirehouse said it had added advisors with a total of over $12.5 billion in assets and $29.6 million in yearly fees & commissions — including one large team from a rival wirehouse — over the past two months.
In mid-January, it recruited a 17-member team with $10.8 billion in assets under management from Merrill Lynch that produced some $16.7 million in yearly fees and commissions.