News, Vision & Voice for the Advisory Community


13 things to know about Bob McCann recruiting his old Merrill Lynch team to UBS

Move signals UBS executive's independence from his bosses back in Switzerland

Tuesday, November 10, 2009 – 10:11 PM by Brooke Southall
no description available
Bob McCann is known not to overpromise

Related Moves

UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 – 1:35 AM

Infamous stockbroker resolves civil suit stemming from violent tirade -- the apparent final chapter in an incident that went viral and forever branded him the 'Fairfield Smoothie Guy'

Broker Jim Iannazzo went all out with high-powered attorneys and slick Las Vegas crisis pr team to limit the damage from his actions, but whether he can ever live down the incident remains to be seen.

September 1, 2022 – 5:11 AM

Oleg Tishkevich builds instant McKinsey-killer in RIA consulting by offering gigs and equity to six solo stars, but good luck managing egos and economics, says someone who's been there

The restless Invent.us founder names (thus far) Tim Welsh, Suzanne Siracuse, Gavin Spitzner, Mark Hollingsworth and Brian Bleasdell as owners in exchange for being on call to tackle big gigs as a superteam

September 10, 2019 – 10:52 PM

Mentioned in this article:

Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh

Joseph Merrill

Joseph Merrill

November 11, 2009 — 3:12 PM

Good Luck to Bob McCann in trying to bring over teams from Merrill. Many of us are still smarting over his handling of the retention deal he forced on us from the BAC merger. He absolutely overpromised to us on the retention deal with BAC .Many of us feel he was disingenuine in his dealings with us. Instead of using the industry standard of paying the bonus on trailing 12 months production, he structured is so is took year to date production and annualized this figure as of September. Many F/A’s have oversized 4th quarters in terms of thier production numbers and he knew that. In this way he was able to minimize what we recieved from the retention deal. At the same time he was out telling the media he was giving us 100% of trailing twelve when most of us actually got 50%. My advice to the F/A’s at UBS...start looking now so you are ready to jump when the firm is sold and McCann offers you a sub-par retention deal. I’d start with Morgan Stanley, then ironically Merrill, which is offering transferring Advisors to the firm 3 times as much to come over as they paid us to stay…

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo