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UBS Wealth Management Americas adds Desai Group to Chicago private wealth management office


The Desai Group, led by Managing Director and Private Wealth Advisor Ajay Desai, has joined the UBS Wealth Management’s Private Wealth Management (PWM) office in Chicago. John Staab and Frank Pellicori, both Senior Vice Presidents, have also joined the firm with Desai.

With trailing twelve month revenue of USD8.3 million and assets under management of USD1.7 billion, the Desai Group delivers comprehensive wealth management strategies to family offices, ultra high net worth families and individuals. Working with clients’ tax and legal counsel, they specialise in creating custom solutions that address estate planning and concentration issues as they relate to wealth transfer and liquidity for their clients.

The group also advises and provides access to capital markets for institutional entities such as family offices, hedge funds and private equity firms. Desai’s particular capabilities include private equity, equity capital markets and market sensitive transactions.

Dennis Drescher, Managing Director and Head of the Chicago PWM office, says: "We are pleased to have Ajay and his team join us. Their extensive experience and proven success in addressing the unique issues facing ultra high net worth families and individuals underscore the firm’s commitment to focusing on what matters most to our clients."

Desai and his team join UBS from Morgan Stanley Private Wealth Management, where Desai was a Managing Director and Private Wealth Advisor. Prior to that, Desai worked in Merrill Lynch’s Private Banking and Investment Group. Before that, he managed a technology-focused hedge fund, co-founded a cash management firm and served as a consultant with Anderson Consulting.

In addition to being named one of Barron’s Top 100 Advisors (2011) in the US, Desai also was named to Barron’s Top 1000 Advisors — ranking fourth in Illinois — and to Registered Rep’s 2010 & 2011 Top 100 Wirehouse Advisors List.

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