UBS Wealth Management Americas has hired a team of four financial advisers from Merrill Lynch Private Banking & Investment Group, where they managed US$3.1 billion in client assets and liabilities.

The four new advisers Mark Binder, Craig Chiate, Glenn Oratz and Scott Brown will join its UBS’ private wealth management office in Los Angeles, according to Reuters.

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Binder, Chiate and Oratz spent 13 years at Merrill Lynch, while Brown spent 10 years.

Chiate was quoted by Reuters as saying that current UBS executives Robert McCann, Robert Mulholland, Brian Hull and Mike Perry were instrumental in recruiting him and his team.

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