The award is the first in a Yield Enhancement Strategy case where the claimants won the full amount damages they had requested, their lawyer said.
UBS returns to the private banking well after hiring a number of traditional brokers in the past month.
Four-advisor UBS team managing $470 million joined in Ft. Myers, while a father-daughter team overseeing $138 million shifted from Merrill in Pennsylvania.
Broker, who started at Merrill Lynch in 1994, had been managing $500 million in assets at RBC, according to a source
A $3-million ‘next gen’ broker marks Rockefeller’s 61st team since its 2018 recapitalization.
Curtis J. Parry was granted expungement of a small unauthorized trading complaint settled in 2000, partly on the basis that his former PaineWebber branch manager called clients to drum up disputes after he and his brother left the firm.
Duo had been managing $1.1 billion in assets and comes after a short hiatus in Rockefeller’s aggressive veteran broker recruiting.
“The exit of the international segment is progressing in line with our expectations,” a firm spokesperson said.
Beantown broker, who moved along with a client associate on Friday, had managed $400 million in customer assets, according to a person familiar with the move.
A Finra arbitration panel recommended the removal of the complaint from the New Jersey broker’s record after Morgan Stanley lawyers backed his case for expungement.