Five senior investment specialists at UBS Wealth Management have jumped ship to join rival firm LGT Wealth Management in Sydney.
Michael Marr, Sean Carroll, Seamus Quick, Stephen Cabot and Patrick Armitage all join from UBS Wealth Management (UBS), each bringing more than two decades of experience across private banking and wealth management.
All will join LGT as investment directors and partners.
Marr was most recently head of global wealth management Australia at UBS, having previously led Credit Suisse’s Australian wealth management business for more than seven years.
Quick was an executive director in the global wealth management division and was a founding member of Credit Suisse’s Australian Private Banking franchise in 2008.
Also an executive director was Cabot, as well as being head of investment consulting at UBS, and he was a founding member of Credit Suisse’s Private Bank.
Finally, Carroll and Armitage both have more than 20 years experience in financial services including at both Credit Suisse and UBS.
Michael Chisholm, chief executive of LGTWM, said: “A move of this significance is carefully considered. The decision by five senior advisers to join LGTWM is a strong endorsement of the platform we have built and its appeal in a market where experienced advisers have considerable choice.
“At a time when families are navigating increasingly complex investment decisions and significant intergenerational wealth transitions, we are deliberately building the depth, continuity and collective expertise required to support them over the long term.”
“The addition of Michael, Sean, Seamus, Stephen and Patrick represents an important step in the continued development of our Australian private wealth business, and we look forward to the contribution they will make to our business and the clients we serve.”
Chisholm added a point of difference for LGT is the ownership structure by the Princely Family of Liechtenstein which allows it to take a long-term view to wealth creation.
“This long-term foundation is complemented by a strong local investment team and deep expertise across private markets and sustainable investing. Together, these capabilities give our advisers the breadth of support required to meet the increasingly sophisticated needs of Australian families and organisations.”