UBS Lands Merrill Private Wealth Team in Ohio Managing $750 Million
UBS underscored its renewed hiring efforts on Friday with the hire of a four-person Merrill Lynch team that had been managing $750 million in client assets in Kenwood, Ohio, according to an announcement.
At UBS, they are reuniting with a former Smith Barney colleague, Richard Corman, and combining their practices into a single team called Executive Wealth Partners, according to the announcement. Corman, a 44-year broker who joined UBS in 2009 from Smith Barney, had been overseeing around $250 million in client assets along with a client associate, Susan Farlow.
The brokers did not return a request for comment left at their new Kenwood branch, which is overseen by UBS’s ‘Ohio Indy’ market head, Jon Ramey, and UBS Private Wealth Management’s Chicago market head, Michael Gatewood.
“The dynamic and diverse makeup of the team will help our branch continue to advise executives, business owners and ultra-high net worth families who possess complex and sophisticated investment and wealth planning needs,” Ramey said in a prepared statement.
Marsh, who started his brokerage career in 2001 at Citi’s Smith Barney, remained for a year after its 2009 acquisition by Morgan Stanley before jumping to Merrill, according to BrokerCheck. Poston began his career at Merrill.
Corman started his brokerage career in 1977 at Paine, Webber, Jackson & Curtis and worked for Smith Barney and predecessor firms for 29 years before joining UBS, according to BrokerCheck.
Marsh and Poston are at least the second multi-million dollar team that joined UBS’s private wealth channel last week. The wirehouse, which resumed recruiting last year after a retreat in 2016, also hired a $5.9 million team from Morgan Stanley in Houston that is led by brothers Grant and Scott Fortney and fellow advisor Michael B. Nichley.