Bank of America Merrill Lynch has nabbed a two-person private wealth advisor team with $1.2 billion in assets under management from Credit Suisse Private Banking.

Bruce Lee and Jim Hoesley joined Merrill Lynch’s private banking and investment group in Chicago on Oct. 28, according to their registration records with the Financial Industry Regulatory Authority. Together, they previously had $8 million in annual fees and commissions.

Lee and Hoesley both serve as managing directors and private wealth advisors. Lee will also serve in a leadership role aimed at driving national growth in the ultra high net worth space.

Lee had been registered with Credit Suisse since August 2004, FINRA records show, and was employed before that for four years at Morgan Stanley.

Hoesley began working at Credit Suisse in October 1976, according to FINRA records.

Merrill Lynch has also hired a three-member financial advisor team from Wells Fargo in Savannah, Ga. Chris Sotus, Mike McCullough and Alex Jarman previously had $257 million in client assets under management and $1.3 million in annual fees and commissions.

All three have been registered with Merrill Lynch since Sept. 29, according to their FINRA registration records.

Sotus will also serve as a resident director for the Savannah office. He was employed with Wells Fargo for more than nine years from June 2002, FINRA records show, and was with Wachovia Securities before that for almost 13 years.

McCullough also joined Wells Fargo in June 2002, FINRA records show, and served at Wachovia Securities before that for about two years.

Jarman was employed with Wells Fargo from December 2008, according to his registration records.