UBS hires $2 Million team from Merrill Lynch

Thursday, 22 April 2010, 15:02 IST
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UBS hires $2 Million team from Merrill Lynch
New York: In order to join its branch in Vienna, Virginia, UBS Wealth Management has hired a multimillion-dollar team from Merrill Lynch. The team previously oversaw $210 in client assets and generated $2.1 million in fees and commissions. UBS is a global firm providing financial services to private, corporate and institutional clients. Its strategy is to focus on international wealth management and the Swiss banking business alongside its global expertise in investment banking and asset management. In Switzerland, UBS is the market leader in retail and commercial banking. UBS is present in all major financial centers worldwide. According to Reuters, the company has offices in over 50 countries, with about 36 percent of its employees working in the Americas, 36 percent in Switzerland, 15 percent in the rest of Europe and 13 percent in Asia Pacific. UBS employs more than 65,000 people around the world. Its shares are listed on the SIX Swiss Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE). David Ciccone, Robert Taylor and Tom Harsanyi joined UBS. The team previously spent five years at Merrill Lynch, a division of Bank of America Corp, according to FINRA filings.