A Morgan Stanley team that managed $950 million in assets has left the wirehouse to join UBS, a spokesman said.
Advisors David Sobocinski, Julian Frank, Marc Wong and Mark Remigio joined UBS in Meville, N.Y., where they report to Robert Limmer, executive director.
The team, which operates as the Empire Group, generated $5.6 million in revenue while at Morgan, according to a UBS spokesman. A Morgan Stanley spokeswoman confirmed the team's departure and declined to comment further.
Sobocinski is an industry veteran having started his career in 1979 with David Lerner Associates, according to FINRA records. He joined Smith Barney in 1993 and stayed through its acquisition by Morgan.
Frank started his career at Lehman Brothers in 1983, transitioning with Sobocinski to Smith Barney in 1993. Wong joined them at the firm in 2001 while Remigio followed suit in 2005, having previously worked at Merrill Lynch.
The new recruits are the latest in a series that UBS has announced in August.
Earlier this week, the Swiss-owned wirehouse said it picked up four Merrill advisors who oversaw $870 million in client assets. Michael Carr, Kirk Ruth, Jeff Hogue, Jeff Rizzo opened a new UBS office in Gainesville, Fla., where they report to Complex Director Tom Isaacs.
And earlier this month, UBS recruited another Morgan Stanley team that managed $2 billion in client assets. The team operates as the Arthurs Malof Group and generated $10 million in annual revenue while at Morgan.
Advisors Glenn and Wyatt Arthurs, who are father-and-son, Chris Malof and Jay Blair joined UBS in Buffalo, N.Y., where they report to Jay Berube, branch manager, and Sam Messina, complex director.
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