Bank of America Merrill Lynch has hired UBS financial Advisor Christopher Bollenbach to its Century City, Calif. office.
Bollenbach previously had $1.07 million in fees and commissions and $117 million in assets under management. He has been registered with Merrill Lynch since June 3, according to the Financial Industry Regulatory Authority. Prior to that, Bollenbach had been with UBS since September 2008 and also held positions at Citigroup Global Markets and PaineWebber.
Bank of America Merrill Lynch also announced this week that it had hired two Morgan Stanley Smith Barney advisors to its Carmel, Ind. office. The firm reported a total of 15,695 financial advisors at the end of the first quarter, and 17,201 wealth advisors, a 3% increase in each category from year before.
The firm has used recruiting as an opportunity to boost its business. Last year, Bank of America Merrill Lynch hired 24 new financial advisors, who brought in more client assets than the 36 financial advisors it lost, Bank of America Global Wealth and Investment Management President Sallie Krawcheck said at a conference in May.