A team managing $2.85 billion in client assets has departed UBS to join Rockefeller. This move represents a substantial loss of client assets and experienced advisors for UBS's wealth management division.
The departure marks another instance of a billion-dollar team leaving UBS, particularly in the greater New York area. This trend highlights ongoing challenges in advisor retention and the competitive landscape for top financial talent.
Such significant losses of assets under management and advisory personnel can impact UBS's growth trajectory and profitability in its wealth management segment. It underscores the pressures faced by the bank in retaining its top-tier advisors.
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