November 8, 2012 / 6:03 PM / 5 years ago

ON THE MOVE-UBS hires veteran Merrill Lynch broker

By Ashley Lau
    Nov 8 (Reuters) - UBS AG's  American wealth
management division bolstered its adviser force in Illinois with
a veteran adviser from Bank of America's Merrill Lynch.
    Thomas Temple, who had been at Merrill Lynch for more than
25 years, moved to UBS in October. He managed about $240 million
in client assets at his previous firm with an annual revenue
production of roughly $1.2 million.
    Temple joined UBS's Northbrook, Illinois office, where Kim
Jenson is complex director.
    UBS confirmed Temple's hire. Bank of America declined to
comment on the departure.
    UBS Wealth Management Americas, the U.S. brokerage division
of the Swiss bank, is the fourth-largest U.S. brokerage with
$875 billion in client assets under management. It had just over
7,000 advisers as of the end of September.
    Since the start of the year, UBS has added at least 69
individual veteran advisers or teams managing more than $9.8
billion in client assets at their old firms, based on moves
tracked by Reuters. 
    Many of the firm's new recruits came from rival brokerages
including Merrill Lynch, Morgan Stanley Wealth Management and
Wells Fargo Advisors, which often vie for the same pool of
veteran advisers.
    UBS also recently added a team of veteran advisers from
Morgan Stanley Wealth Management in Florida. The Bulhack Ponczek
Group, which managed $423 million in client assets, joined UBS
on Friday.

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