UBS Wealth lands veteran adviser from Merrill Lynch

Wed Jan 23, 2013 6:14pm EST

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(Reuters) - UBS AG's Wealth Management Americas said on Wednesday it landed a veteran adviser from Bank of America Corp's Merrill Lynch.

Adviser Todd Starkey, who had been at Merrill for more than a decade, moved to UBS's Melbourne, Florida office last Thursday. Starkey was previously based out of Merrill's Merritt Island office and managed $260 million in client assets.

Starkey, who was joined by senior registered associate Candace Pelham, generated $2.1 million in annual revenue last year.

Bank of America confirmed the departure but declined to comment further.

UBS and Merrill rank among the top U.S. brokerages, along with Morgan Stanley Wealth Management and Wells Fargo Advisors. The four firms often vie for the same pool of veteran advisers.

(Reporting by Ashley Lau in New York; Editing by Steve Orlofsky)

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