UBS hires $3 billion DC-based private wealth team from Goldman Sachs - Business Insider

Arnd Wiegmann/Reuters/Business InsiderUBS is hiring a large Washington, DC-based team of financial advisers from Goldman Sachs as it doubles down on private wealth within its wider wealth business.

The team is UBS's largest hire by client assets since the firm recruited a team from Goldman Sachs overseeing $6 billion in assets in February, and is one of its largest adviser hires of 2020. They will join the firm's private wealth unit, where advisers tend work with clients with a net worth of at least $30 million.

UBS has been doubling down on the business it's best known for: overseeing the financial lives of extraordinarily wealthy people. That's included a focus on expanding the business's private wealth unit.

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