Both UBS and Merrill Lynch have recruited new advisor groups in California and NYC respectively.

Merrill Lynch has hired the team of Michael Bromberg and Daniel Gerschel from Morgan Stanley, responsible for managing over $400 million in client assets. 

Bromberg has joined as a managing director, while Gerschel has been named as an assistant vice president. The team joins the Rockefeller Center Complex in NYC and reports to branch manager Michael Simonds.

Meanwhile, UBS Wealth Management Americas has recruited The Grueninger Group from Merrill Lynch in Beverley Hills, CA.

The team is made up of Mark Grueninger, senior vice president of wealth management and portfolio manager; Ben Sauer, wealth strategist; and Mariam Aziz, client service associate.

The group, which specializes in retirement planning and family trusts, has a T-12 of $2,670,000 and reports to David Bigler, managing director and complex director.