Dynasty Hires UBS Complex Manager to Rev Up West Coast Recruiting
Dynasty Financial Partners has named David Wiener, a 24-year veteran of Merrill Lynch and UBS Financial Services, to head its West Coast growth.
Dynasty, founded by former Smith Barney executives in 2010 to provide banking, trading, money-management and operational services to independent investment advisors, said Wiener will be based in San Francisco and report directly to Chief Executive Shirl Penney.
His hiring follows the departure of Tim Bello, Dynasty’s top rainmaker, in March. Wiener, 48, will complement Stan Gregor, the former head of Cantor Fitzgerald’s retail brokerage unit who runs East Coast recruiting for Dynasty, Penney said. Ten of the 36 advisory firms in Dynasty’s “network” are on the West Coast.
Wiener began his new stint on Monday, following a garden leave from UBS Financial Services where he most recently ran the broker-dealer’s Silicon Valley complex, Penney said.
In his 13-year career at UBS’s U.S. brokerage operation, Wiener worked closely with a wide range of producers as regional director for its Southwest and later Northwest regions. In the latter position he gained some notoriety in February 2014 when a group of influential brokers in UBS’s San Francisco branch to his position.
Following the incident, Weiner down-shifted from regional manager to complex manager based in Menlo Park, CA. The branch manager, Michael Williams, is now a UBS complex director in San Francisco.
Dynasty’s hiring of Wiener coincides with a reorganization of UBS America’s management structure but the events are unrelated, Penney said.
A spokesman for UBS declined to comment, citing company policy. Wiener was traveling and not available for an interview, according to a Dynasty spokeswoman.