McCann unveils leadership overhaul at UBS wealth unit (Wealth Bulletin) - Robert McCann, chief of UBS Wealth Management Americas, on Tuesday named four former Merrill Lynch executives to the brokerage’s leadership group,

Morgan Stanley's CEO: Recruiting Finally Becoming "Rational" (Bank Investment Consultant) - Morgan Stanley's new chief executive officer says that current financial advisor recruiting is at the lowest level he has seen in his decade of overseeing wealth management businesses.

Fidelity Recruits 191 Brokers In '09 (FA Mag.com)

RBC Lures $4 Million Smith Barney Team (Bank Investment Consultant) - RBC Wealth Management has hired John Menefee and Tom Meagher from Morgan Stanley Smith Barney to join its Bend, Oregon branch.

UBS Appoints Mulholland to Run its Advisor Force (Bank Investment Consultant) - Mulholland, who spent 25 years at Merrill, will be head of the UBS Wealth Management Advisor Group. He replaces Jamie Price.

Merrill Nabs $2 Million Smith Barney Team (Bank Investment Consultant) - The two veteran Cincinnati-based advisors managed $226 million in client assets and generated $2.2 million in fees and commissions for Smith Barney.

Nationwide Financial tells its advisers to find new B-Ds (Investment News)