The advisor, Mark Pomo, had been with Morgan Stanley Smith Barney for more than two decades, where he had managed US$230 million in client assets and had generated more than US$600,000 in annual revenue production in 2011.
Currently, Pomo is based in UBS’s Florham Park, New Jersey office, and reports to Michael Price, managing director and complex director at the firm.
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Pomo began his career at Lehman Brothers in 1987, joined Citigroup in 1993 and eventually moved into Morgan Stanley Smith Barney in 2009 after Morgan Stanley’s wealth unit merged with Citi’s Smith Barney.
Additionally, UBS has also added two other former Morgan Stanley Smith Barney teams to its Florham Park office, having hired veteran adviser Todd Ellentuck in late March and a team of advisors – Richard Palumbo, Robert Short, Robert D’Amato and James Dixon – in early April.
The teams managed US$576 million in client assets.
As of the end of March 2012, UBS’s Americas wealth management group had US$851 billion in client assets under management and more than 7,000 advisors.
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