UBS has recruited a former Morgan Stanley senior vice president to join its Perth wealth management team as the bank looks to grow its presence among WA's affluent clients.
UBS has recruited a former Morgan Stanley senior vice president to join its Perth wealth management team as the bank looks to grow its presence among Western Australia’s affluent clients.
UBS has appointed Biljana Pavlovic as a client adviser in its Perth office, joining Tim Clemenger as the second local adviser under its global wealth management division.
This time last year, Mr Clemenger became UBS’ first locally based wealth adviser to join the team of investment bankers, after Tim Andrew was brought in to rebuild the bank's Perth presence in 2018.
UBS’s Perth office – held since 2008 – was briefly gutted when former Perth head Tim Day and members of his team left to establish Sternship Advisers.
Mr Andrew has since moved to Singapore for the role of head of Unified Global Banking for South East Asia, India & Australia for UBS.
Ms Pavlovic joins UBS from Morgan Stanley Wealth Management, where she was a senior vice president for almost four years.
She resigned from the firm on the same day as four of her wealth adviser colleagues, who moved to rival firm Canaccord Genuity Australia.
As a result, Morgan Stanley decided to close its Perth office in Exchange Tower and transition to flying interstate advisers in to meet with clients.
Ms Pavlovic has 20 years’ experience working with ultra-high net wealth individuals – worth more than US$30 million – on wealth generation, preservation and distribution across the United Kingdom, Europe and on home-soil.
She previously held senior roles at NAB Private and ANZ Private.
Ms Pavlovic’s mandate is developing UBS’ WA client base of UHNW individuals and progressing initiatives in women’s wealth, family offices and other fields.
UBS’ Perth wealth offering was established after the bank estimated the isolated city could be wealthiest in Australia per capita, pointing to the nearly 20 billionaires.
It’s understood the bank is expanding its footprint in Australia, particularly in Perth and Brisbane, as part of its global wealth management growth strategy.
