$1.3B Tampa Team Joins UBS from Bank of America Private Bank

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A four-advisor Tampa, Fla.-based squad managing astir $1.3 cardinal successful lawsuit assets is joining UBS from Bank of America Private Bank, the Swiss-based wirehouse announced.

The advisors, including Jesse Flatt, Lea Ann Drew, Brandon Burns and Carlos Rodriguez, volition articulation UBS's Greater Florida/Gulf Coast Market nether the supervision of Tampa Bay Senior Market Director Jack Heiss.

According to Heiss, the squad built their careers astir serving ultra-high-net-worth and business-leader clients, portion UBS Southeast Regional Director Julia Fox said the squad would bring much than 100 years of combined acquisition and person "spent decades gathering heavy relationships passim the Tampa community."

As portion of UBS, the squad volition enactment with lawsuit families, individuals and executives connected fiscal services, including concern management, taxation needs, property readying and plus allocation.

According to UBS, Flatt has astir 20 years of manufacture experience, with advisory roles astatine Invesco, BlackRock, Morgan Stanley and Merrill Lynch. Before moving arsenic a elder portfolio manager astatine Bank of America Private Bank, helium was a portfolio manager astatine RBC Rochdale.

Drew has astir 4 decades of manufacture experience, starting with Barnett Bank successful St. Petersburg, Fla., successful 1988. In summation to astir 15 years with Bank of America Private Bank, wherever she worked arsenic a elder spot officer, Drew antecedently worked for Wells Fargo Private Bank and SunTrust successful akin roles.

Like Flatt, Burns was a portfolio manager astatine RBC Rochdale earlier joining Bank of America Private Bank successful 2022. He was a marketplace concern enforcement and elder portfolio manager successful Central and North Florida, and helium besides mentored different portfolio managers and backstage wealthiness advisors. Rodriguez spent 30 years successful the industry, including 14 years astatine SunTrust Bank and the erstwhile 12 astatine Bank of America Private Bank arsenic a wealthiness strategies advisor.

Earlier this year, UBS CEO Sergio Ermotti said the slope is identifying candidates to regenerate him, arsenic helium hopes to measurement down by outpouring 2027 astatine the latest. (In a January interview, Ermotti expressed a penchant for an interior successor.)

The imaginable interior successor candidates see Chief Operating Officer Beatriz Martin, Aleksandar Ivanovic, who leads the firm's plus absorption business, and wealthiness absorption co-leaders Iqbal Khan and Ribert Karofsky.

During a league successful May, Ermotti besides floated the anticipation of acquisitions by the firm's American concern arsenic different enactment to boost growth. Earlier this year, the bank's Americas concern deed lawsuit inflows of $5.3 cardinal for the archetypal 3 months of the year, aft 3 consecutive quarters of outflows.