The Swiss banking and wealth management group has made a point of the importance of the California and wider West Coast market for its business, notwithstanding some of the problems in this area of North America in recent years.

A former private wealth advisor at UBS has re-joined the business for its West Coast segment, having spent a period at JP Morgan.

UBS Private Wealth Management has brought back Stephen McCashin as a private wealth advisor and managing director.

Prior to re-joining UBS, McCashin served as a regional director at JP Morgan Wealth Management, where he oversaw the San Francisco and Seattle offices. Previously, he spent 17 years at UBS in various roles, most recently as complex director, private wealth management in San Francisco.

The move also is a reminder of the importance of the West Coast market for UBS, as covered in an interview done by this news service last November. 

“He brings a unique regional perspective that will be a great asset as we continue to grow our presence on the West Coast,” Lauren Gorsche, metro LA market head at UBS Private Wealth Management, said. 

The Los Angeles-based team manages a total of $9.4 billion in client assets. The team includes private wealth advisors Drew Freides, Michael Kanigher, James Hulburd and Steven Westerman, as well as Financial Advisors Brendan Carroll, Melanie Desma, and Kate Freeman.

While not all the headlines about California have been positive recently (population exodus, crime in big cities, wildfires), the home of Hollywood, Silicon Valley, wine producing powerhouses such as Napa, tourism and agriculture has a lot of wealth-creating power.