UBS hires advisers with $2 billion in client assets

UBS Global Wealth Management is continuing to selectively hire financial advisers, with brokers recently joining the firm in San Francisco and New York. In June, UBS hired Mariia Eroshin in San Francisco. She had most recently worked at Citigroup Global Markets and before that Merrill Lynch, according to her BrokerCheck profile. Ms. Eroshin, who has been registered in the retail securities industry for six years, reportedly has $400 million in client assets and generates more than $2 million in annual revenues, according to industry sources. And just this week, UBS hired Kevin Roth in New York, who reportedly has $1.6 billion in client assets and also produces more than $2 million in revenues annually, according to industry sources. A 32-year industry veteran, Mr. Roth most recently worked at HSBC Securities (USA) Inc., according to his BrokerCheck profile. A few years ago, UBS management made clear it wanted to scale back on recruiting, which is costly, and instead focus on organic growth of advisers' assets and books of business through investments in technology. However, the firm has continued to hire advisers from competitors.