Bank of America Merrill Lynch will create a strategic wealth advisory services unit and bring experts working with international and private banking clients into one team, Investment News reported, citing a company official.
The unit will provide specialized services to the private banking and investment group, which serves Merrill Lynch's wealthiest clients. Group head Don Plaus said the unit's services will include "wealth structuring, generational wealth and family planning, and day-to-day wealth complexity management."
Greg McGauley, who serves as the northeast regional managing director for the private banking and investment group, will lead the unit, according to the report.
Merrill Lynch also announced that Linda Patel will be named regional managing director for Texas. She will be based in Dallas.
Andres De Corral, based in Miami, will become regional managing director of Florida.
