ON THE MOVE-UBS Wealth Management hires adviser from Merrill Lynch

Thu May 22, 2014 10:51am EDT

May 22 (Reuters) - UBS AG's Wealth Management Americas unit said it had hired a financial adviser from Merrill Lynch.

Stephen Davis, who managed about $500 million in client assets and generated revenue of about $2.6 million while at Merrill Lynch, joined UBS' Westlake Village, California office.

Davis, who joined in April, reports to branch manager Louis Skertich.

Merrill Lynch was not immediately available to confirm the departure.

Last week, UBS hired Paul Hatch, a veteran wealth management executive, to oversee products and services as part of a restructuring of its brokerage operations in the Americas. (Reporting by Avik Das in Bangalore)