UBS Wealth Management Americas is expanding in New York City and will debut a new Manhattan complex that will be open for business early in the fourth quarter.

William Van Scoyoc, most recently complex manager for Morgan Stanley's 1211 Avenue of the Americas office, has joined as complex director of UBS’s new office located at 101 Park Avenue. He reports to Chris Amo, regional director for the metropolitan region.

“Earlier this year, we embarked upon a business planning process with each regional director to develop near- and medium-term strategic goals for their regions. As part of this effort, we looked closely at our footprint to determine if there were opportunities for growth in markets that are underserved by UBS or that represent a growing target client base,” David McWilliams, eastern division director, said in an internal memo seen by Family Wealth Report. “One of the key markets we identified is New York City.”

The Park Avenue office will bring the total number of offices in New York City to six. UBS Wealth Management Americas has more than 600 advisors in New York City.

“Despite the ongoing market turmoil and challenging time, we feel that NYC is an important strategic market to grow our business as part of the plan to grow in the top 15 markets,” a UBS spokeswoman told FWR.