Merrill Lynch recently moved Mark Casey, who has been with the firm since 2001, to its new Private Banking and Investment Group office in Dallas, where he will oversee the so-called “Texas region” of that group. Recruiters say another appointment will be announced at Merrill for the forthcoming Atlanta office within a few weeks, and speculation is that this position will be filled internally as well.
The firm said the new office in Atlanta will launch in early 2005, but that it has not decided on a manager yet. The private banking group, previously known as the wealth management group, was renamed to reflect a separation from the rest of the salesforce. It currently has offices in New York, Chicago, Los Angeles and San Francisco, and plans to open more offices in “major metropolitan regions,” according to Jim Hays, head of the private banking and investment group at Merrill.
Private wealth advisors maintain no more than 100 client relationships, all of which have at least $10 million in investable assets.