UBS Lands Massive Goldman Sachs PWM Team; Anchored In LA and Boston, Huge Revenue And AUM Numbers

UBS just pulled of a recruiting banger!! Adding what looks to be one of, if not the biggest, teams in the wealth management industry.

Via a press release from UBS:

“UBS Private Wealth Management (PWM) is proud to announce that it has hired Denis J. Cleary and Gregory M. Devine, along with Analysts Abigail Harris, Seamus O’Neill, Mindi Chen and Christopher Carbone. Denis and Gregory will maintain offices in both Boston and Los Angeles.”

“Denis and Gregory operate one of the fastest growing Private Wealth Management teams in the industry, with more than $20m in production and $6bn Assets Under Supervision. With clients located in more than 25 states across the US, Cleary and Devine will maintain their commitment to the local communities in Boston and Los Angeles by having offices in both locations, to serve their growing, national client base.”

Those are the kind of numbers that will resonate all year long, and could serve to turn the fortunes of UBS losing streak around recruiting the past 12-18 months. UBS was one of the largest client assets and headcount losers in 2019, but have started 2020 with a cash register… err… bang!

Doesn’t hurt that they hail from Goldman Sachs. The ‘private banking’ march into wirehouses continues.