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UBS Private Wealth Management Hires $1.3 Billion Seven-Person Team in Chicago
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
UBS Private Wealth Management has welcomed Coyle, Schmitt & Beaudoin Wealth Management Group to its team in Chicago, Illinois. This seven-member group, led by co-founders Pat Coyle, John Schmitt, and Jean Beaudoin, manages over $1.3 billion in client assets and specializes in serving ultra-high-net-worth individuals and families. Michael Gatewood from UBS stated the team's extensive industry experience would bolster their offerings in this key market.
Positive
Addition of experienced team managing $1.3 billion in assets enhances UBS's ultra-high-net-worth services.
Leadership changes bring fresh perspectives and strong client dedication.
Negative
Potential concerns regarding continuity and integration of new team members.
CHICAGO--(BUSINESS WIRE)--
UBS Private Wealth Management today announced that Coyle, Schmitt & Beaudoin Wealth Management Group have joined the firm in Chicago, Illinois. The seven-person team, co-founded and led by Pat Coyle, John Schmitt and Jean Beaudoin, advises ultra high net worth individuals and families, and manages more than $1.3 billion in client assets.
The Coyle, Schmitt & Beaudoin Wealth Management Group (Photo: Business Wire)
“We’re excited to welcome Pat, John, Jean and their team to UBS,” said Michael Gatewood, Midwest Market Head at UBS Private Wealth Management. “The team’s industry experience and dedication to clients will be a great addition to our business as we look to continue to expand our ultra high net worth client offering in this key market.”
Pat Coyle has joined UBS as a Private Wealth Advisor and has more than three decades of industry experience. Working with ultra high net worth individuals and families, Pat has helped his clients streamline the complexities of substantial wealth and capitalize on financial opportunities. Pat also has significant experience advising senior executives, company founders, entrepreneurs, and multigenerational families. He earned his bachelor’s degree from Albion College and holds the Certified Divorce Financial Analyst® designation. Pat lives in Chicago with his wife and three sons.
John Schmitt has joined UBS as a Private Wealth Advisor and brings more than 25 years of investment and analytical experience to the team. He advises senior executives, company founders and entrepreneurs with wealth structuring, investment management and asset allocation. John has a bachelor’s degree from the University of Illinois and a Master of Business Administration from the Kellogg Graduate School of Management at Northwestern University. John also holds the Chartered Financial Analyst® and Certified Investment Management Analyst® designations. He lives in La Grange, Illinois with his wife and their three children.
Jean Beaudoin has joined UBS as a Financial Advisor andhas 35 years of wealth management experience. He provides ongoing, personalized financial guidance to ultra high net worth individuals and families, helping his clients focus on the importance of capital preservation. Jean has a bachelor’s degree from Denison University and holds the Chartered Retirement Planning Counselor designation. He lives in Deerfield, Illinois, with his wife.
Michael Schodrof has joined UBS as a Financial Advisor and has significant experience working with private clients. Prior to becoming an advisor, he spent two decades in Institutional Equity Sales advising professional money managers, insurance companies and hedge funds. With his highly technical knowledge of the institutional investor, Michael provides a unique perspective to his ultra high net worth individual and family clients. He holds the Chartered Financial Analyst® designation and is an active member of the CFA® Society of Chicago and the CFA® Institute. He has a bachelor’s degree from DePaul University and a Master of Business Administration from the Kellogg Graduate School of Management at Northwestern University. Michael lives in La Grange, Illinois, with his wife and their three children.
Also joining the team at UBS is Senior Client Service Associate Anthony DuBose, as well as Senior Wealth Strategy Associates Jill Godoy and Ivy Leggero.
Notes to Editors
About UBS
UBS convenes the global ecosystem for investing, where people and ideas are connected and opportunities brought to life, and provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as to private clients in Switzerland. UBS offers investment solutions, products and impactful thought leadership, is the leading global wealth manager, provides large-scale and diversified asset management, focused investment banking capabilities, and personal and corporate banking services in Switzerland. The firm focuses on businesses that have a strong competitive position in their target markets, are capital efficient and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 30% of its employees working in the Americas, 30% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 21% in Asia Pacific. UBS Group AG employs more than 72,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
What is the significance of Coyle, Schmitt & Beaudoin joining UBS?
Their addition bolsters UBS's wealth management capabilities, particularly in serving ultra-high-net-worth clients.
Who are the key members of the Coyle, Schmitt & Beaudoin Wealth Management Group?
The team includes Pat Coyle, John Schmitt, Jean Beaudoin, and other experienced associates.
How much client assets does the new team manage at UBS?
The team manages over $1.3 billion in client assets.
What roles have Pat Coyle, John Schmitt, and Jean Beaudoin taken at UBS?
Pat Coyle and John Schmitt are Private Wealth Advisors, while Jean Beaudoin is a Financial Advisor.
What are the potential impacts of this team addition on UBS's stock?
The integration of a capable wealth management team may strengthen client relationships and increase asset management revenue, positively impacting UBS's stock.
