Merrill Loses $7.8M Team to UBS

UBS pulled in a Merrill Lynch team that generated about $7.8 million in annual revenues, a spokesman said.

Team members Melissa Corrado-Harrison, Greg Richardson and Ronald Kemp joined UBS's Private Wealth Management division in Denver.

The team works primarily with high-net-worth families. While at Merrill, they oversaw $1.3 billion in client assets.

"A lot of our clients are first-generation wealth — it's not inherited," Corrado-Harrison told On Wall Street in an interview last year.

Corrado-Harrison began her financial services career in Merrill's Family High-Net-Worth Planning division in 1992, according to a statement from UBS.  In 2001, she transition into a financial advisor role within the Merrill's elite Private Banking & Investment Group.

Richardson started his career at Northwest Bank in 1992. In 2000, he moved to Merrill, according to FINRA BrokerCheck records. Kemp has been at the firm since 1997.

UBS latest hires come on the heels of the firm's announcement that it had hired a Barclays complex manager. John Houlihan now oversees a UBS complex on Long Island, N.Y., comprising five offices in Jericho, Garden City, Melville, Southampton and Port Jefferson.

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