UBS AG recently made three new additions to its adviser staff, in two different Florida offices.
First, it hired Stephen McDonald and John Henderson at its Sarasota office.
The two came from Merrill Lynch, where they had $294 million of assets under management, and trailing-12 production of $1.8 million. They will report to James Danko, the branch manager in Sarasota.
Meanwhile, UBS also hired Sean Clancy at its Aventura office.
He came from Janney, and will report to branch manager Erin Borger.
He previously had $100 million in assets under management, and $808,000 in trailing-12.
In a recent interview with On Wall Street, UBS Wealth Management America's chief executive, Bob McCann, said that UBS is staking out a niche as a smaller, high-end wire house, closer in spirit to a boutique than a traditional wire house.
It will focus its energy, and its spending, on metropolitan areas.
McCann said that the company had to pick and choose where it would compete instead of casting a wide net.
"We're not all things to all people," he said at the time.
