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Another UBS team bolts for J.P. Morgan Securities

UBS lost another group of advisors to J.P. Morgan Securities.

Overall, the firm's headcount has dropped 4%, with its Americas wealth management unit falling to 6,689 for the second quarter — down from 6,937 for the same period a year ago. The figure includes advisors in Canada and Latin America.

This is the sixth team to join JPMorgan Chase’s boutique brokerage in 2019 and the second to join the firm from UBS in the last two months. The firm onboarded a three-person team from the wirehouse in September.

The Becker Capps Alberts Group, comprised of James Christopher Becker, Pamela Abercrombie Capps and Carl Alberts, joined J.P. Morgan Securities in Clayton, Missouri Oct. 25.

Combined, the group oversees $235 million in client assets, according to the firm.

The move gave the team “the best resources, research and capital to better serve the diverse needs of their clients,” according to Becker.

From the brokerage’s perspective, the new blood represents an effort to strengthen its presence in the state, according to the firm.

Becker has 34 years of industry experience, all of which were spent at UBS, before he made the move, according to FINRA BrokerCheck records.

Employees pass between offices as the UBS logo sits on a walkway at the bank's headquarters in Zurich, Switzerland, on Monday, Jan. 22, 2018.

Capps spent 10 of her 18 years in the industry at wirehouses — three years with Merrill Lynch and seven with UBS, according to FINRA BrokerCheck records.

Alberts logged all of his five years in the industry at UBS before signing on with his new firm.

A spokeswoman for UBS declined to comment on the move.

In Missouri, JPMorgan Chase’s businesses include Middle Market and Commercial Banking, the Private Bank and the recently expanded Chase retail branches.

In other news from the boutique brokerage, James Lansing was promoted to New York regional director, replacing former director Mike Lee. Lansing has worked on the JPMorgan Chase corporate strategy team since 2014, most recently spearheading a campaign to improve innovation and efficiency on the firm’s operating committee.

Lansing will report to Chris Harvey, CEO of J.P. Morgan Securities.

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