The move by the $3 billion Merrill Lynch PBIG team in southern California to UBS this week also involves eight other advisors, Financial Advisor has learned.
As previously reported, the Private Banking and Investment Group team of Craig Chiate, Mark Binder, Glenn Oratz and Scott Brown joined UBS Tuesday.
Also making the move to UBS were at least eight other Merrill advisors who shared clients with the Binder, Chiate, Oratz & Brown team.
James Chiate, Craig’s brother, and Anthony Guinane have moved to an Irvine, Calif., UBS branch.
Chris Gaal, Jeff Hamilton, James Axelson and Barry Porter went to UBS’s Newport Beach, Calif. office.
In addition, Scott Harries joined UBS in Los Angeles and David Mandel moved to the Encino, Calif., branch.

Merrill spokeswoman Susan McCabe declined comment.
Landing the PBIG team is seen as a coup for UBS. The PBIG unit serves the crème de la crème of advisors at Merrill. And with their high-net-worth clients served by a specialty support team, and access to unique services including lending capabilities, observers say advisors in the group can be tough to lift out.
Chiate and Oratz are listed among the top 100 advisors in California by Barron’s.
Binder, Chiate and Oratz all joined Merrill in 2000, when they came over from Goldman Sachs’ private client division.
Brown, a 10-year Merrill veteran, focuses on alternative investment research and new business development.