Merrill Lynch has promoted Eric Schimpf to be regional director of the southeast region of its private banking and investment group, based in Atlanta.

Mr Schimpf moves to Atlanta after a spell as director of Merrill Lynch's Tennessee Valley complex in Chattanooga. He has also worked in senior roles at Merrill Lynch offices in Boston and San Francisco.

Jennifer Povlitz, eastern managing director for the private banking and investment group, said: "Atlanta and the southeast are experiencing a tremendous growth in wealth. Eric's energy and experience will be tremendous assets in positioning Merrill Lynch to respond to the growing demand for private banking solutions in the region”.