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Morgan Stanley Team Switch To BoA Merrill To Form New Private Banking Office
Tom Burroughes
11 October 2016
A team of wealth advisors at Morgan Stanley in the US has defected to Bank of America Merrill Lynch to create a new private banking office, serving clients in the technology sector in the Pacific Northwest. The eight financial advisors are Jason Weese, Mark Harris, Todd Kelly, Matt Bridge, Kristen Buxton, Alan Lubner, Jim Ferguson and Traci Bumpus. In September, Merrill Lynch welcomed financial advisor Brad Weinman from Morgan Stanley in West Palm Beach, FL. Last week, the Merrill Lynch said that its current wealth management chief, John Thiel, would be stepping down from his role to take on a new role as vice chairman of global wealth and investment management. Andy Sieg, current head of the company’s global wealth and retirement solutions division, succeeds Thiel as head of Merrill Lynch Wealth Management. The changes are effective as of January 1, 2017.
“The expansion of technology sector, life sciences industry, and venture capital community has created substantial demand for private banking and wealth management services,” Tracy Murphy, regional managing director for the private banking and investment group in the Pacific Northwest, said in a statement emailed to this publication.