Rockefeller Nabs Another UBS Team, This Time a $3.6-Mln Group in CA
Just over two years since its recapitalization, Rockefeller Capital Management continues to aggressively target veteran wirehouse teams and on Friday hired a UBS team generating $3.6 million in annual revenue in Newport Beach, California, according to a well-placed source.
Devine, who had been with UBS Wealth Management USA in Irvine, California since 2012, declined to comment, and the elder Oglevee, who had been with UBS since 2011, could not immediately be reached for comment on the move.
Also moving with the team are two client associates: Justin Medeiros and Robb Lindell, a Rockefeller spokeswoman said in confirming the hire.
The team is calling their practice Oglevee & Devine, according to its new website.
A UBS spokesperson declined to comment.
The team is the second UBS team Rockefeller poached this month.
In early April, Rockefeller recruited a five-person team from San Antonio, Texas that had been managing $630 million in client assets and produced $3.8 million in annual revenue.
The Friday move is also the 52nd practice hired by Rockefeller’s private wealth management unit since its 2018 recapitalization by venture capital firm Viking Global.
Rockefeller, which has largely cherry-picked large wirehouse teams since the recapitalization, added in March a three-broker Merrill Lynch team in San Antonio with $4.9 million in revenue.
Rockefeller’s executives have said the goal is to add around 200 teams by 2025.
Rockefeller is a signatory to the Protocol for Broker Recruiting, which allows brokers to solicit their former clients when moving among participating firms. UBS exited the pact in 2017 following a retreat from veteran broker recruiting in 2016.
Devine started her career in 2005 with an affiliate of The Ayco Company, now the financial planning division of Goldman Sachs, and then spent three years as a Goldman Sachs client liaison, according to her UBS biography and her BrokerCheck record.
The elder Oglevee also started at the same affiliate in 1998, moving to Ayco in 2000, and UBS in 2011, according to his BrokerCheck record.
Both Devine and Oglevee graduated from law school, Chapman University, School of Law in 2004 and Franklin Pierce Law Center at the University of New Hampshire in 1998, respectively, according to the biographies posted on their Rockefeller website.
The younger Oglevee started his brokerage career in 2017 at UBS, according to his BrokerCheck record.