A UBS team that managed more than $350 million in assets has left the wirehouse to return to Merrill Lynch, a spokeswoman said.

Advisors Chad David, Samuel J. Robertson, Jr., and Chelsea Smith joined Merrill's office in Baton Rouge, La. The team operates as the David/Robertson Group and reports to branch manager Jeremy Silvas.

The group had previously been with Merrill until leaving the firm in 2008 to join UBS.

"We are very glad to be back at Merrill Lynch and believe that the breadth and depth of their services will help us serve our clients well," David said in a statement.

David started his career in 1991 at Merrill, according to FINRA records. Robertson joined the wirehouse in 2002 while Smith signed up in 2008, just prior to the move to UBS late that year.

Merrill has announced a number of new hires recently, including 20 advisors who managed more than $1.8 billion in assets while at rivals Morgan Stanley, UBS, JPMorgan and Barclays.

And last month the wirehouse recruited a Morgan Stanley team that generated $4 million in annual revenue and managed nearly $3 billion in assets, according to a spokeswoman and the latest Barron's rankings. The team is led by advisor John Mirsepahi and joined Merrill's Rockefeller Center office in New York.

 

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