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Merrill vet jumps ship to lead Clearbrook Financial

Global Wealth Management exec Robert Mooney replaces John Morris as CEO

By Mark Bruno

June 9, 2009 3:28 pm ET

Clearbrook Financial LLC has lured a 22-year Merrill Lynch & Co. veteran to serve as its new chief executive.

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Robert Mooney, who was most recently the chief business risk officer in Merrill's Global Wealth Management Group, assumed the role of Clearbrook’s CEO on May 25.

He replaced John Morris, the Princeton, N.J.-based independent advisory firm’s co-founder, who will continue to serve as Clearbrook’s chairman.

Mr. Mooney is charged with running Clearbrook's day-to-day operations, allowing Mr. Morris to focus more of his time on the firm's strategy, key relationships and new projects.

Clearbrook has over $30 billion in assets under advisement, according to the firm.

Mr. Mooney, who also served as the general counsel and chief administrative officer for New York-based Merrill's wealth management business, was drawn to this new position by Clearbrook's independent status, he said.

"It's an attractive model, particularly given the major changes that are taking place in the advisory business," said Mr. Mooney, who also served as an attorney for the Securities and Exchange Commission's Division of Enforcement before his tenure at Merrill.

A Merrill spokeswoman did not respond to a request for information about Mr. Mooney's replacement.

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