UBS Securities, which has been one of the most aggressive recruiters of the last year or so in the retail brokerage business, continued its hiring efforts, recently bringing on two large producers from Goldman Sachs—one in Atlanta, one in San Francisco. The firm, which recently formed a private wealth management group, has been seeking top producers to gain market share in the high-net-worth business.
In Atlanta, UBS hired a partnership of Cameron Crowley and William Bayley Taff to work at the firm’s Peachtree Road office where Robert Karam is the branch manager, according to the NASD database. The two, million-dollar producers at Goldman, were at Goldman Sachs for six years and 10 years, respectively.
Meanwhile, the firm also hired Gwen Campbell, another large producer, to work at UBS’ San Francisco offices on California Street under branch manager James Klein. She had been with Goldman Sachs for six years prior to the move.
UBS was the originator of an innovative deal in the last year that offered 70 percent in up-front bonuses and tiered production bonuses for the first two years of production for the rep at UBS. Recruiters say that deal has recently been increased to offer an upfront bonus of 100 percent, divided into cash and stock components. A spokesperson for the firm was unavailable at press time.