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Raymond James taps UBS manager for Alex. Brown office

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A UBS veteran joined Raymond James's Alex. Brown division as the regional executive of its Los Angeles office, a spokeswoman says.

It's the latest hire for the Alex. Brown unit, which is attempting to grow through recruiting.

Gary Cohen was previously a complex sales manager overseeing three UBS office locations with 95 advisors who generated $110 million in annual revenue, according to the Raymond James.

At Alex. Brown, Cohen will be tasked with expanding its presence in Southern California. The firm's Los Angeles office currently has 10 advisors who manage approximately $12 billion in client assets, a spokeswoman says.

Raymond James grabbed five multi-million teams in a month. Other firms to see big transitions include Wells Fargo and Ameriprise.
August 7

Cohen has 26 years of industry experience working at several firms, including J.P. Morgan and Wells Fargo. He started his career working at Oppenheimer & Co. in 1990, according to FINRA BrokerCheck records.

A UBS spokeswoman declined to comment on Cohen’s departure.

Earlier this month, Alex. Brown recruited a Morgan Stanley team who managed $500 million in client assets for its Park Avenue office in New York.

Raymond James acquired the boutique firm from Deutsche Bank, expanding its presence in the high-net-worth client space. The regional broker-dealer plans to grow Alex. Brown's advisor force by about 15% per year for the next five years, according to Haig Ariyan, the unit’s president.

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