A team producing $3.7 million in annual revenue at UBS Wealth Management USA departed for Rockefeller Global Family Office on Wednesday, according to a source familiar with the move.
The Osle Perlman Torelli Wealth Partners team, which the source said managed $800 million in assets, is led by Ernest A. Osle and Robert B. Perlman, according to their firm website. They joined Rockefeller with support staff Chad J. Torelli in New York City.
The team, which had gone by the moniker Lineage Advisors at UBS, included 38-year veteran Michele McCallion and eight-year junior broker Richard Leone, who both remain with the wirehouse, according to their former firm website. McCallion, who joined UBS six years ago from Merrill Lynch, did not respond to a request for comment sent through social media.
Osle and Perlman joined UBS from AllianceBernstein and Credit Suisse, respectively, in 2015, according to BrokerCheck. Olse started his career with AllianceBernstein in 2008. Perlman first registered with Lehman Brothers in 1988 and moved to Credit Suisse in 2008.
Members of the team did not respond to a request for comment. A UBS spokesperson declined to comment.
Rockefeller in June landed a solo practitioner from Morgan Stanley who managed $300 million in client assets in North Carolina. The New York-based firm earlier this year recruited at least two other teams from Morgan Stanley as well as teams from UBS and Raymond James & Associates.
Rockefeller has said it oversees about $212 billion in assets across its family office and asset management units. More than half, or approximately $136.4 billion, is managed under a Rockefeller ADV, according to regulatory filings.
UBS last month lost a team managing $466 million in assets to Merrill Lynch. Firm executives have said they expect attrition to moderate in the second half of this year as it reinvests some of its cost savings.
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