UBS has expanded its advisor force with the addition of a former Merrill Lynch team with $3.1 billion in assets under management.
The Binder, Chiate, Oratz & Brown team, comprised of Mark Binder, Craig Chiate, Glenn Oratz and Scott Brown moved to UBS Los Angeles, Calif., office. All four had previously been advisors with Merrill Lynchs Private Banking and Investment Group, which focuses on high net worth clients with over $5 million in assets.
Mark Binder began his career at Goldman Sachs in New York in 1994, according to registration records at FINRA. He had been at Merrill Lynch in California for the past 13 years and served as a managing director.
Chiate started his career at Goldman Sachs in 1997 and had also been at Merrill Lynch since 2000, according to FINRA records.
Twenty-year industry veteran Glenn Oratz began at Goldman Sachs in 1993 before moving with the team to Merrill Lynch in 2000.
Scott Brown started at Merrill Lynch in Los Angeles in 2003.
As of September 30, UBS reported that it had some 7,137 advisors, up from 7,032 in September of 2012.