UBS Wealth Management Americas has hired a team of four financial advisors from a unit of Goldman Sachs.
Trevor Fahr, David Folmnsbee, Andrew Noone and Ryan Anderson worked for Ayco Co. L.P., a unit of Goldman Sachs Group Inc., where they generated $3 million in fees and commissions in the last 12 months and managed $558 million in client assets.
Fahr worked at Ayco for 11 years, while Anderson spent seven years at Ayco. Folmnsbee worked at Ayco for almost eight years and Noone worked there for six years.
A spokeswoman for UBS confirmed the hiring.
In an interview with On Wall Street last month, UBS Wealth Management America’s chief executive officer Bob McCann said that UBS is staking out a niche as a smaller, high-end wirehouse, closer in spirit to a boutique than a traditional wirehouse. It will focus its energy, and its spending, on metropolitan areas. McCann said that the company had to pick and choose where it would compete instead of casting a wide net. “We’re not all things to all people,” he told On Wall Street at the time.
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