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$6.5B JPMorgan Team Jumps to UBS

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UBS HQ Zurich (Photo: AP)

UBS Private Wealth Management in Los Angeles has added a seven-person advisory team, The Legacy Multi-Family Group, with $6.5 billion in client assets from J.P. Morgan Private Bank.

The team, led by Patrick Schaffer and Ryan Bristol, has four decades of combined experience and joins UBS in the Century City business district of Los Angeles, UBS said Friday.

Schaffer and Bristol join UBS after about nine years each at JPMorgan, according to their reports on the Financial Industry Regulatory Authority’s BrokerCheck website. They focused on high-net-worth families, individuals, foundations, and privately held businesses.

JPMorgan on Monday declined to comment on losing the team to UBS.

Prior to his career in wealth management, Schaffer worked for JPMorgan’s investment bank and two hedge funds. He is also an adjunct faculty member at Villanova University, where he teaches finance and accounting.

Over his 19 years in the sector, Bristol worked for firms including Morgan Stanley from 2001-2003, Bank of America’s investment services unit from 2003-2005 and Bernstein Global Wealth Management’s private client practice from 2009-2012 before joining JPMorgan in 2012. He started his career at Goldman Sachs in 1999.

The team also includes advisors Barry Peterson, Corey Mazza and Dhanesh Bharvani; Basel Sbeini, relationship manager; and Shauna Kohanchi, senior wealth strategy associate.

Peterson joined JPMorgan in 2011. Prior to that, he worked in the philanthropic sector as a charitable business development officer at the California Community Foundation.

Mazza held private wealth management roles at JPMorgan from 2017-2021 and Goldman Sachs from 2016-2017. He served for just under six years in the U.S. Marine Corps as an infantry officer prior to his career in financial services.

Bharvani started his career with JPMorgan in Singapore, where he worked on the non-resident India team. He moved to Los Angeles in 2016 to join J.P. Morgan Private Bank.

“We look forward to working closely with the team as we continue to grow our business in Los Angeles,” Lauren Gorsche, Los Angeles Complex Director at UBS Private Wealth Management, said in a statement.

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