UBS Private Wealth Lures $2B Merrill Lifers

UBS Private Wealth Management announced that Paramus, NJ–based Foley, DeLuise & Associates, which manages over $2 billion in assets for ultra-high net worth clients, has joined the firm’s Manhattan Market.

The team is led by advisors Matthew Foley, Lawrence DeLuise and Christopher Butler. Foley and DeLuise had been at Merrill Lynch for more than 25 years. The team also includes senior investment manager Jason Lipp; senior business manager Gregory Romano; two private wealth associates, Lori Macaluso and Deanna Wilson; and two client associates, Linsey Serafino and Emily Buske.

The UBS Manhattan Market is managed by market executive Christopher DiMuria, alongside market directors Robert Sorrentino and Thomas Conigatti. The team will remain in the Paramus UBS Private Wealth Management office, which is managed by market director Adam Kamm.

“For decades, they [Foley, DeLuise and Butler] have served high net worth and ultra-high net worth clients with distinction, helping them navigate complex financial decisions and generational family wealth management,” said DiMuria. “We look forward to supporting the team as they continue to grow and deliver the full power of UBS to their clients.”

UBS recently added three Merrill teams: a five-person NY-based team managing $1.3 billion in assets, an eight-person IL-based group overseeing $1.6 billion in assets, and a 10-person NY-based team with $2 billion in assets.