UBS has recruited an eight-person Los Angeles wealth management team that oversaw more than $1.4 billion with Bernstein Private Wealth Management, a unit of AllianceBernstein. UBS also announced two new leadership moves in its wealth management operations in the Southern U.S.

The newly recruited practice, Lumina Wealth Partners, counts four advisors and four support personnel, and had annual revenue production of $11.5 million at Bernstein, which declined to comment on the departure.

UBS says the team caters to clients with "significant wealth," including entrepreneurs and business owners, professional athletes and entertainers, and multigenerational families. Lumina specializes in helping clients navigate complex financial situations, such as selling a business or other liquidity events, charitable giving, and generational wealth transfers.

Two of the advisors, Pasha Azad and Dayne Crist, are joining UBS as managing directors and private wealth advisors. Steven Summerhays and Koby Dardashti are joining as financial advisors.

Kate Daniels, senior market director for Los Angeles Private Wealth Management at UBS, praised the team for its "highly respected practice grounded in deep client relationships, thoughtful advice, and an entrepreneurial approach."

The team will work out of UBS' new L.A. complex, which houses more than 225 employees from the firm's wealth management and investment banking operations, including municipal traders and consultants.

"Their arrival comes at an exciting time for UBS in Los Angeles, as our new space brings together colleagues and capabilities from across the firm to help us address the increasingly complex needs of our clients," Daniels says.

The team joined UBS on Friday. UBS' new L.A. office is across the street and one block away from the team's former office with Bernstein.

Toward the other side of the country, UBS announced new leaders in its South Market, which includes Georgia, Tennessee, and Arkansas and is a unit of UBS' Southeast Region division.

John Houlihan, who joined UBS in 2015, has been named market executive for the South Market. UBS hired Ian Roth from Goldman Sachs to serve as senior market director, reporting to Houlihan. Goldman didn't immediately respond to a request for comment on the departure.

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