Merrill Lynch has expanded its private wealth management team with an executive appointment.

Merrill Lynch has hired Paul Morris as managing director and private wealth advisor in its private banking and investments group (PBIG) office in New York City.

With over 20 years of financial industry experience, Morris was most recently an advisor at Deutsche Bank’s private banking arm. He began his career as an investment banker with Merrill Lynch in 1997.

Morris provides high net worth clients with estate planning, investments, insurance and lending advisory services. His clients include entrepreneurs, executives, and family offices.

“Given the significant growth in the ultra-high net worth market and the increasing need for integrated planning and investment services, we are thrilled to be able to add an advisor of this caliber to the PBIG team,” said Mollie Colavita, regional director of Merrill Lynch’s private banking and investments group in New York City.

“We believe that his clients will benefit from the market-leading wealth management services at Merrill Lynch.”

Merrill Lynch confirmed to this publication that the role is a new one.

The private banking and investments group forms part of Merrill Lynch Global Wealth Management, which as of June 30, 2016, had 14,416 financial advisors and $2 trillion in client balances.