Wirehouse Watch: Citi Hires UBS Exec, UBS Recruits Morgan Stanley Trio, Wells Fargo Adds Texas Team
Major US wirehouses are actively reshaping their leadership and advisory teams through strategic hires. Citigroup has appointed Philip Pellegrino, a former UBS executive, as the head of its insurance and retirement division within Citi Wealth Investment Solutions, effective July 2026. Pellegrino brings over 25 years of experience to shape global strategies and oversee relationships with partners like AIA. Meanwhile, UBS is strengthening its Manhattan presence by hiring Jeremy Autry as a market director and welcoming the Levinson Vargas Group, comprising advisors Harlan Levinson and Louis Vargas, from Morgan Stanley. In Texas, Wells Fargo Advisors continues its aggressive expansion by acquiring the AGT Private Wealth Group from UBS. This Frisco-based team manages over $1.6 billion in assets, furthering Wells Fargo's trend of securing billion-dollar teams. These moves highlight intense competition among top financial institutions to capture high-net-worth clients and enhance wealth management capabilities through experienced talent acquisition and regional expansion.
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Wirehouse Watch: Citi Hires UBS Exec, UBS Recruits Morgan Stanley Trio, Wells Fargo Adds Texas Team
Major US wirehouses are actively reshaping their leadership and advisory teams through strategic hires. Citigroup has appointed Philip Pellegrino, a former UBS executive, as the head of its insurance and retirement division within Citi Wealth Investment Solutions, effective July 2026. Pellegrino brings over 25 years of experience to shape global strategies and oversee relationships with partners like AIA. Meanwhile, UBS is strengthening its Manhattan presence by hiring Jeremy Autry as a market director and welcoming the Levinson Vargas Group, comprising advisors Harlan Levinson and Louis Vargas, from Morgan Stanley. In Texas, Wells Fargo Advisors continues its aggressive expansion by acquiring the AGT Private Wealth Group from UBS. This Frisco-based team manages over $1.6 billion in assets, furthering Wells Fargo's trend of securing billion-dollar teams. These moves highlight intense competition among top financial institutions to capture high-net-worth clients and enhance wealth management capabilities through experienced talent acquisition and regional expansion.
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