ON THE MOVE-UBS hires adviser team from BofA Merrill Lynch

NEW YORK Tue Dec 10, 2013 3:17pm EST

NEW YORK Dec 10 (Reuters) - UBS AG's Wealth Management Americas unit said Tuesday that it hired a team of two financial advisers from Bank of America Merrill Lynch for one of its Texas offices.

Jay Arbetter and Jason Taraszki joined the firm's office in Addison, Texas, on Dec. 2. They managed $275 million in client assets and had annual revenue production of $2.04 million at their previous firm.

Arbetter worked at Bank of America Merrill Lynch for 28 years, while Taraszki worked at the firm for 13 years, regulatory filings show. UBS has 25 offices in Texas, company spokesman Gregg Rosenberg said.

Arbetter and Taraszki were not immediately available for comment. A Bank of America Merrill Lynch spokeswoman confirmed the departures but declined further comment.

Client service associates Victoria Stoker and Amanda Edwards, also from Bank of America Merrill Lynch, joined the team at UBS.

UBS hired seven advisers from Bank of America Merrill Lynch for three of its California offices on Oct. 29, UBS said last month. Those advisers managed a total of $1.8 billion in client assets.

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