$1B UBS Team Jumps to Morgan Stanley

A UBS team that oversaw about $1 billion in client assets left to join Morgan Stanley, the recruiter who oversaw the move says.

Abraham Chehebar, Javier Jaramillo, Juan Carom left UBS in Coral Gables, Fla., this week to join Morgan in Miami, Steve Rosen, president of Rainmaker Associates told On Wall Street in an exclusive interview.

The trio generated about $11 million in annual revenues before jumping between the wirehouses, according to Rosen. A Morgan spokeswoman could not immediately confirm the move, and a UBS spokesman said the firm doesn't comment on departures.

The team reports to manager Kevin McCarthy, Rosen said.

Chehebar had been with UBS since 2004 while Jaramillo and Carom  had been with the wirehouse since 2005, according to FINRA BrokerCheck records. Chehebar had previously worked for Smith Barney from 1998 to 2004.

Jaramillo and Carom were both at Wachovia Securities from 2003 to 2005, and Prudential from 2001 to 2003, according to BrokerCheck. Jaramillo, prior to that, was with ABN AMRO.

This new hire helps Morgan offset several recent departures. Earlier this month, two teams that oversaw more than $500 million in client assets moved to Stifel.

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