UBS scoops up $1.3 billion Merrill private banking team

In its latest recruiting win, UBS Wealth Management Americas has nabbed a team of three advisers who managed some $1.3 billion in assets for Bank of America Merrill Lynch's elite Private Banking and Investment Group. The trio, which includes advisers Melissa Corrado-Harrison, Greg Richardson and Ronald Kemp, brought in $7.8 million in revenue last year. They are based in Denver, and were part of Merrill Lynch's Private Banking and Investment Group, which comprises around 150 teams who manage assets for ultra-wealthy clients. Ms. Corrado-Harrison had spent her career at Merrill Lynch, having started at the firm in 2001, according to BrokerCheck records. Mr. Richardson had been with Merrill Lynch since 2000 and began his career at Norwest Investment Services Inc. in 1992. Mr. Kemp had been with Merrill Lynch since 1997. A spokeswoman for Merrill, Susan Atran, confirmed the team had left but had no further comment. UBS has picked up a number of large recruits in recent weeks, including a $5 billion team from JPMorgan Chase & Co., according to InvestmentNews' Advisers on the Move database.