JPMorgan team moves to UBS private wealth management group – AdvisorHub

UBS Wealth Management USA hired a seven-person team led by Patrick Schaffer and Ryan Bristol from JPMorgan Chase & Co.'s private bank, AdvisorHub reported Feb. 5.

The Los Angeles-based team had been in charge of $6.5 billion in client assets at JPMorgan. The team also includes advisers Barry Peterson, Corey Bazza and Dhanesh Bharvani, and client associates Basel Sbeini and Shauna Kohanchi. They generated $26 million in annual revenue. It has joined UBS' private wealth management group for ultra-wealthy clients, according to the report.

A JPMorgan representative declined to comment on the move, and Schaffer and Bristol could not immediately be reached for comment, AdvisorHub added.