UBS Wealth Management Americas has hired Morgan Stanley Smith Barney financial advisor Brian Zalewski in Chicago.
Zalewski previously had $110 million in client assets under management and $1.1 million in annual fees and commissions. He served at Morgan Stanley Smith Barney since June 2009, according to records with the Financial Industry Regulatory Authority. Before that, Zalewski worked at Citigroup Global Markets for about three years.
Zalewski has been registered with UBS since August 19, FINRA records show. He reports to UBS Chicago branch manager Geoffrey Centner.
The announcement of Zalewski’s hiring comes on the heels of UBS’ announcement this week that it plans to slash 3,500 jobs internationally in a cost-cutting move.
Though that plan calls for 350 positions to be eliminated from the Wealth Management Americas unit, financial advisors will not be affected, UBS Wealth Management Americas Chief Executive Robert McCann said in a memo sent to advisors on Tuesday.
“In key markets across the U.S., we continue to hire quality advisors that you would be proud to call your colleagues,” McCann’s memo said.
UBS’s total U.S. advisor force was 6,862 as of the end of the second quarter, up 51 from the first quarter.