Merrill Wealth Management ramped up senior executive turnover in the wake of the recession. Former City chairman Andy Zieg leaves City.
Wall Street agency promoted Greg McGorry to replace him Don Plath as Secretary He was responsible for Private Wealth Management, International and Institutional Business, and held other executive roles in key roles.
A Merrill spokeswoman said in an email Friday that all changes are effective immediately. The telegraph office announced the news internally to employees on Friday.
The changes include promotions to replace Mr. Zeke himself, who is now Merrill’s new President and Co-President, Eric Simpf and Lindsay Hans. they again, Future direction of the company after Sieg: Strengthen integration with parent company Bank of America, Advisor development program To train entry-level advisors — this is Heavy Losses for Experienced Advisors — and supports aggressive organic growth. All executives involved report directly to Hans and Simp.
“With these leadership appointments, Merrill is well positioned to continue driving responsible growth and delivering results for our customers, advisors and partners,” Hans and Simp said in a joint statement Friday. He added that he has “strong experience in the field,” providing leadership, servicing clients and leading growth and advisor training programs. ”
read more: Zeke’s move could lead to big changes for both Merrill and Citi
McGorry, the former Northeast regional leader at Merrill Private Wealth Management, effectively succeeds Prause and Hans. Hans was appointed to the role of Prausebut overruled it when she was promoted to co-leader of the Wirehouse.
Prause had originally planned to retire at the end of March. then delayed his departure To stabilize the ship after Zeke suddenly escapes. It is not yet clear when Prause will retire. “Don Plath and Gregg will be moving on in the coming weeks,” the company said in an email.
Retired as Chief Operating Officer Kirsten Hill plans to retire at some point this month.
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Simp will be replaced by Brian Ludwig as Executive Officer of the Pacific Coast Division and by Eric Vatter as Head of Advisor Development. Ludwig has previously served as Houston market executive, starting in 2021.
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The firm said in an email that Vatter has held “various leadership roles, including Resident Director, Market Head, Advisor Development, Talent Recruitment and Domestic Roles focused on Resident Director Strategy.” Mr. Batter will also lead the Market Executive Leadership Academy and Practice Management Group.
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Lydia Declemente is currently Head of Merrill Banking Enablement and Merrill Financial Solutions Advisors and will continue in her previous position of leading MFSA, although her expanded banking responsibilities will lead the company said.
“Lydia will also work with April Schneider, Head of Wealth Management Banking and Lending, to lead efforts to enhance the way Merrill offers banking services to its clients,” the company said. rice field. Mr. Declemente previously headed the Academy of Consumer Investing, Corporate Licensing and Professional Titles.
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Finally, Kenneth “Ken” Correa “will assume an expanded role as Head of Business and Customer Development,” the company said.
Mr. Correa continues to lead, among other things, national recruitment, the Top Advisor Recognition Program, and the National Resident Director Strategy.
He will also “lead our business development and customer growth strategy and work with our product and services leadership team to drive seamless integration and field adoption across Merrill,” the company said. Stated.
All roles are promotions to the senior leadership team, except for Correa, who was already there. A spokeswoman said it “has not yet announced” who will replace each of the newly promoted executives.