Merrill shakes up group that works with richest clients

Experts dealing with international and private banking clients will now form one team

Mar 13, 2018 @ 10:40 am

By Bruce Kelly

Merrill Lynch announced internally that it was streamlining its private banking, international and institutional groups with the goal of better serving its wealthiest clients.

One key change announced Monday will bring experts working with international and private banking clients onto one team and also create a new group called Strategic Wealth Advisory Services, according to Don Plaus, head of Merrill's Private Banking & Investment Group, or PBIG.

Greg McGauley, currently the northeast regional managing director of PBIG, who also works with institutional clients, will lead the new Strategic Wealth Advisory Services team.

"This new unit will provide specialized services for PBIG, international and institutional clients as needed, including wealth structuring, generational wealth and family planning, and day-to-day wealth complexity management," according to Mr. Plaus' announcement.

Andy Sieg, head of Merrill Lynch Wealth Management, last year tapped Mr. Plaus to lead PBIG and Merill's international unit. The group works with the firm's ultra-high-net-worth clients.

Linda Patel will become regional managing director for Texas and will be based in Dallas. Andres De Corral, based in Miami, will become the regional managing director of Florida.

Inez Louzonis and Kevin Walsh will continue to lead, respectively, international and institutional strategies.


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