Morgan Stanley Smith Barney has hiredtwo teams of financial advisers from UBS and Bank of America Merrill Lynch with a combined trailing 12-month production of just under $10 million between them, according to Investment News.

The four-person UBS team comprises Michael Paesano, Jeffrey Cadan, Richard Perkins and Matthew Hayford. They wil work from MSSB’s midtown Manhattan office and report to branch manager David Turetzky.

MSSB could not be reached by this publication at the time of going to press.

The team had a combined trailing revenue of $6.4 million, the publication said, citing an unnamed source.

MSSB also recently signed a two-man team out of Newport Beach, California from Bank of America Merrill Lynch. David Runstrom and Eric Noyes, together managed $332 million in assets and had combined production of $3.3 million, the publication said, adding that they join MSSB’s Newport Beach office.

In April, MSSB made a number of organizational changes as part of plans to further align its structure to serve financial advisors and clients, including the appointment of the former chief operating officer of a JP Morgan Chase business as its new COO, according to an internal memo seen by this publication.

Jeff Hack, who was most recently COO of the Worldwide Securities Services business of JP Morgan Chase, takes over as COO of MSSB. Hack was also formerly COO of JP Morgan's global private banking and private wealth management businesses, and its head of corporate strategy.