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J.P. Morgan Securities nabs $753M UBS team

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J.P. Morgan Securities picked up two UBS advisors who managed more than $753 million in client assets, a spokeswoman confirmed.

They're the latest hires for the high-end wealth management unit of JPMorgan Chase, which has been aggressively courting elite talent. In June, J.P. Morgan Securities opened a new branch in Miami.

So far this year, the firm has recruited top advisors away from rivals, including former Morgan Stanley advisor David Reiser, who managed $500 million, and ex-Merrill Lynch advisor Michael Taggart, who oversaw $800 million.

J.P. Morgan Securities' newest hires, Patrick Amato and Tad Waldbauer, joined the firm in New York as financial advisors and managing directors. They report to Regional Director Mike Lee.

The duo serves ultra-high net worth clients and business owners.

They made the move for J.P. Morgan's platform and services model, they said in a statement.

Amato and Waldbauer had been with UBS since 2009, according to FINRA BrokerCheck records. They previously worked at Merrill Lynch for eight years.

A UBS spokeswoman declined to comment.

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