Merrill Lynch said Monday that a team from UBS has joined its Private Banking & Investment Group in Chicago.
Private wealth managers F. Michael Covey, Tom Kane and Mark Wiktor have formed the CKW Team. At UBS Private Wealth, they had $3.3 billion in assets under management.
Each of the team members was with UBS for close to a decade, after moving their practice to that firm in 2007 from Lehman Brothers. They now report to Regional Managing Director Brett Thelander.
Covey began his career as a CPA at Ernst & Young and has 17 years of industry experience. Kane has been in the business for 13 years and first worked for the McNally Family Office. Wiktor started out in the field 23 years ago and spent 15 years in the Private Investment Management Group at Lehman Brothers.
According to Merrill, the CKW Team is joined by relationship managers, wealth analysts and associates Jack Mullen, Mike Grande, John Pagliari, Nick Novak, Michael Majewski and Emily Taylor.
On Friday, Merrill Lynch announced today that Joseph Gabriele and Paul Vasady-Kovacs moved to its Rockefeller Center office from UBS, where they had $1 billion in assets and $7 million in production. The two advisors have worked together for nearly 20 years and have about 45 and 20 years, respecitvely, in the business.
"Joe and Paul run a tremendous, family-focused business for the ultra-high net worth," said Michael Simonds, market executive, in a statement. "I am excited to welcome such an incredible team to the firm."
The Gabriele VK Wealth Management team also includes Christian Martinez and Dana Shaker.
