Rockefeller Nabs $3.8-Million UBS Team in Texas
Rockefeller Capital Management has recruited a five-person UBS Wealth Management USA team managing $630 million in client assets in San Antonio, Texas, according to a Thursday announcement.
Touted as the 50th team hired to Rockefeller’s private wealth unit since its 2018 recapitalization, the group reports to divisional director Michael Armondo. Armondo started his career as a broker in San Antonio with Merrill Lynch, where all four brokers had also worked before joining UBS.
Reached at his new office on Monday, Augustine, who first registered as a broker in 1998 with Merrill Lynch and joined UBS in 2004, declined to comment on the move.
Augustine had also worked as a branch manager for his former San Antonio outpost, according to his former UBS website.
Lloyd started his career in 1994 with Merrill, left in 1997 for stints at Inverworld Securities and M.E. Allison & Co., and rejoined Merrill in 1999, according to his BrokerCheck. He also joined UBS in 2004.
Hoffman began his career in 1996 with Edward Jones, joined Merrill in 2000 and remained there until moving to UBS in 2013, his BrokerCheck said. Anderson, who is based in Bainbridge Island, Washington, started at Merrill in 2004 and joined UBS in 2007, according to the database.
Rockefeller, which has been cherry picking large wirehouse teams since its recapitalization by venture capital firm Viking Global, has been recruiting heavily in Texas. In March, it added a three-broker Merrill Lynch team in San Antonio with $4.9 million in revenue. It also scored a trio of UBS brokers producing $5 million in Houston in June of last year.
Rockefeller’s executives have said the goal is to add around 200 teams by 2025.
“We are pleased with the progress of the thoughtful approach we are taking to expanding our business,” Chris Randazzo, president of Private Wealth Management at Rockefeller, said in a prepared statement.
Rockefeller is a signatory to the Protocol for Broker Recruiting, which allows brokers to solicit their former clients when moving among signatory firms. UBS exited the pact in 2017 following a retreat from veteran broker recruiting in 2016.
A spokeswoman for UBS declined to comment.