MOVES-UBS Wealth Management lands mega-group from JPMorgan's private bank [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
MOVES-UBS Wealth Management lands mega-group from JPMorgan's private bank | Reuters Reuters Staff 2 Min Read NEW YORK, March 23 (Reuters) - UBS Group AG has hired a five-person team of financial advisers away from JPMorgan Chase & Co’s private bank, where they had managed the accounts of hundreds of ultra-wealthy clients based in Mexico, according to a UBS memo seen by Reuters on Friday. The high-profile hires managed $30 billion at J.P. Morgan Private Bank, according to Investment News, and join the world’s largest wealth manager at a time of otherwise lean recruiting at its U.S. wealth business. The team will be based in New York, Miami and Houston, and includes Carlos Rodriguez Aspirichaga, the former head of J.P. Morgan Private Bank Mexico, Miguel Barbosa, previously manager for the Mexico-region market, Ricardo Mendez, previously head of the Mexico City prospecting team, Alfonso Barros and Juan Calder?n. JPMorgan spokeswoman Kaitlin Finnerty declined to comment on the departures.
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