Janney lands Merrill team with more than $900 million

Janney Montgomery Scott LLC has landed a group of former Bank of America Merrill Lynch advisers who manage over $900 million in assets for clients, the regional brokerage announced on Friday. The team, which joins Janney's West Harford, Conn., branch office, has annual production of $3.7 million, Steve Heck, a spokesman for Janney, said in a statement. Advisers Robert Black, Ned Manuel, Ed Blumenthal and Bob Borkowski spent the past nine years at Merrill, Mr. Heck said. They are joined by account executive Malcolm Berman and three assistants. A Merrill Lynch spokeswoman could not be reached. Philadelphia-based Janney is a subsidiary of The Penn Mutual Life Insurance Co.