An advisor team that managed $175 million in client assets for UBS has moved to Merrill Lynch, the firm said.
Former UBS senior vice president Michael Calvin and vice president Guy Clayton joined Merrill Lynch in Lakeway, Texas, on earlier this month. They will report to complex director Angelo Ciardella, according a spokesperson.
This isn't Calvin's first time working for Merrill Lynch. He spent four years at the firm prior to joining UBS in 2008, according to FINRA's BrokerCheck.
Before joining Calvin at UBS in 2010, Clayton was at PrimeVest Financial Services in St. Cloud, Minn., from 1995 to 1998.
Merrill Lynch recently recruited a nine-person Morgan Stanley team with $1.2 billion in client assets to their Private Banking & Investment Group in Century City, Calif., where they now report to managing director Michael Rogers.