The day after a UBS Financial Services Inc. team managing $4.8 billion said it had left to set up its own registered investment adviser, UBS said it had hired a group of stalwart bankers from J.P. Morgan Private Bank in Atlanta.
The group, led by Jeff Lewis, Steve May and John McColskey, has $9 billion in client assets under management, according to an industry source who asked not to be identified. It's not clear how much of that amount will eventually wind up at UBS.
All three will have the title of managing director, according to a statement from UBS announcing the hiring.
Lewis had been with J.P. Morgan since 2004, according to his BrokerCheck profile. May and McColskey had worked at J.P. Morgan since 2008 and 2015, respectively.
At J.P. Morgan's Private Bank, Lewis led a team that provided advice on portfolio construction, asset allocation, manager selection and opportunistic trading across both public and private markets, according to UBS.
A spokesperson for J.P. Morgan decline to comment.
Elsewhere in Utah, Raymond James also welcomed another experienced advisor from D.A. Davidson.
A federal appeals court says UBS can’t force arbitration in a trustee lawsuit over alleged fiduciary breaches involving millions in charitable assets.
NorthRock Partners' second deal of 2025 expands its Bay Area presence with a planning practice for tech professionals, entrepreneurs, and business owners.
Rather than big projects and ambitious revamps, a few small but consequential tweaks could make all the difference while still leaving time for well-deserved days off.
Hadley, whose time at Goldman included working with newly appointed CEO Larry Restieri, will lead the firm's efforts at advisor engagement, growth initiatives, and practice management support.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
