Under the deal, the Swiss wealth manager said that Cleary and Devine will maintain their offices and commitment to local communities in Boston and Los Angeles and will also serve a national client base. The European wealth manager described the new US partnership as “one of the fastest growing private wealth management teams in the industry.”

Analysts Abigail Harris, Seamus O’Neill, Mindi Chen and Christopher Carbone are also joining, UBS said in a statement.

"We are excited to welcome Denis, Greg and their team to UBS," said Max Bardeen, complex director of Boston PWM at UBS. "The team's commitment to our community will be a welcome addition to our market.”

John Mathews, Americas head of ultra-high net worth and private wealth for UBS said the new team’s “entrepreneurial focus, productivity and national footprint” were a conclusive factor in the Swiss manager’s US growth ambitions. Mathews added: “Known for being one of the largest teams in the country under the age of 50, we're proud to have them on board here at UBS to bring a differentiated view for our clients.”

Cleary began his career as a corporate attorney at an international law firm, before moving to private wealth management in 2006, where he gained expertise in advising business owners and entrepreneurs. His main focus has been advising clients in the technology, healthcare, family business and real estate sectors.

Devine began in private wealth management in 2004 having previously worked in Silicon Valley. He brings technology expertise and experience in the private equity, venture capital, and family business sectors. Devine moved to the Greater Los Angeles area in 2016 to service a growing national client base.

UBS has offices in more than 50 regions globally, with about 31 per cent of its employees working in the Americas.