UBS gains adviser with $4.8B from Morgan Stanley

John Rasweiler, a prominent Morgan Stanley adviser in New Jersey, has joined UBS Financial Services Inc. Mr. Rasweiler, a 45-year veteran of the industry, joined UBS's Florham Park, N.J., office last Friday, according to Financial Industry Regulatory Authority Inc. registration records. Mr. Rasweiler's team handles $4.8 billion in assets and has trailing 12-month production of $10 million, said UBS spokesman Gregg Rosenberg. Joining Mr. Rasweiler were team members John Cusate, Jack Riley, Michael Jordao, Jesse Kent and William Burke. Mr. Rasweiler did not return a call yesterday. Christine Jockle, a Morgan Stanley spokeswoman, confirmed Mr. Rasweiler's departure, but declined further comment about his move. Mr. Rasweiler is a “huge producer who handles large stock plans like Exxon,” said Frank LaRosa, head of Elite Recruiting and Consulting, which recruits for UBS. A legacy Smith Barney broker, Mr. Rasweiler “is legend at the firm,” said Mr. LaRosa, who was not involved in Mr. Rasweiler's move.