UBS Wealth Management US recently added 132 financial advisors who managed
$14 billion in client assets as the firm continues to beef up its recruiting efforts amid brokerage industry turmoil, according to Dow Jones, basing its figures on regulatory industry filings.

The addition of the advisors, who were hired over two weeks ending
28 November, underscores the firm's recent success in attracting brokers and overcoming departures earlier this year, the newswire said.

UBS did not immediately comment when contacted by WealthBriefing to comment on the details of the report.

The situation has been different in countries such as the

UK, however. Earlier this year, a team of more than 50 UBS private wealth advisors and support staff left the Zurich-listed bank to work for

UK wealth start-up Vestra Wealth. The Swiss firm has suffered client outflows amid the massive credit losses sustained by the investment banking arm of UBS.

Some of the recent hires at UBS include

Barry Elkins,Pamela Davies,Ellen Jones, andAndrew Le, who joined the firm's

Menlo Park,
California office from
Morgan Stanley. The team had
$5.3 million in combined production and managed
$774 million in prior assets.

Before joining UBS, Mr Elkins worked at
Morgan Stanley
and predecessor firm Dean Witter Reynolds for more than 27 years, while Ms Davies spent more than 23 years there according to Financial Industry Regulatory Authority records. Ms Jones was a 29-year
Morgan Stanley
veteran, while Mr Le had a seven-year career there, FINRA records show.

Other recent recruits from
Morgan Stanley
include

Andy Zager andMichael Friedman. The two brokers had
$3.5 million in combined production and managed
$262 million in prior assets. They will be based in UBS'


Atlanta office, reporting to branch managerJerry Johnson.

Mr Friedman worked at
Morgan Stanley for more than 30 years, while Mr Zager spent over 11 years there, Finra records show, DJ said.

In

Bloomington,
Minnesota, UBS added The Engelmann Wealth Management Group -

Michael Engelmann and William Ogdahl - from Morgan Stanley. The team had
$2.3 million in combined production and managed
$168 million in client assets. They will report toKaren Heintz.

UBS also hired

Greg Mowrer and Tom Cavada from
Citi’s Smith Barney
brokerage to work in its midtown

New York City office, located on Avenue of the

Americas. Mr Mowrer was a
$1.2 million producer and had
$160 million in assets under management. Mr Cavada had
$2.2 million in production and managed
$226 million in prior assets. Both brokers will report toJohn Alex, branch manager. Mr Mowrer worked at
Citigroup
for over 15 years, while Mr Cavada spent more than 12 years there, regulatory records show.

In addition,
Smith Barney
brokers

Peter Zubizarreta andRandall Bodner joined UBS'


Miami office. Both brokers had
$1.1 million in production and managed
$135 million in client assets.