UBS broker in New Jersey managing $460 million returns to Morgan Stanley after 11 years.
Duo who had joined First Republic in 2013 after running their own RIA had been overseeing $900 million in assets, according to a person familiar with their book.
Wirehouse veterans broke away last week to launch their own practice, Washington Crossing Financial Group, named for the town where they are based.
Despite shrinking advisor count, UBS Wealth Americas reported record earnings thanks to a boost in fee-based revenue, positive net new assets and loan growth.
UBS Group AG senior executives were blindsided, and some bitterly disappointed, by Chairman Axel Weber’s selection of ING Group NV’s Ralph Hamers as the Swiss bank’s next chief.