People Moves
Merrill Lynch Appoints New Head of Private Client Group
Merrill Lynch has appointed Frank Porcelli to head BlackRock’s private client group. Merrill acquired a 49.8 per cent stake in BlackRock ear...
Merrill Lynch has appointed Frank Porcelli to head BlackRock’s private client group. Merrill acquired a 49.8 per cent stake in BlackRock earlier this year in a deal valued at more than $8 million.
Mr Porcelli is currently the chief operating officer of Merrill Lynch Investment Managers. MLIM and BlackRock manage more than $285 billion in retail client assets.
Anne Ackerly, who ran the private client business at BlackRock since 2000, will become operating chief of the private client business, Merrill said.
