The wealth management business of BoA Merrill Lynch has announced a number of top-line appointments and moves.

Bank of America Merrill Lynch’s global wealth and investment management arm has made a number of top-level appointment moves. In early October, the firm announced leadership changes at this part of the bank's business (see here).

Among the latest changes, announced last Friday, Keith Banks, president of US Trust – part of Bank of America Merrill Lynch - will take on the additional responsibility to lead the newly created GWIM chief investment office and investment solutions group, continuing to report Terry Laughlin, who is vice chairman and head of GWIM, the firm announced at the end of last week. In his expanded role, Banks will lead the development of additional model portfolios for advisors. He will work with Andy Sieg in his role as head of Merrill Lynch Wealth Management, which he assumes on January 1 next year.

Keith Glenfield, will lead a newly created GWIM investment solutions group, comprised of the components of the former managed solutions group organization, together with the addition of the markets group, headed by Liam O’Neil, the alternative investments team, led by Nancy Fahmy and supporting functions.

In his newly expanded role, Glenfield will work with Chris Hyzy, GWIM chief investment officer and his team. and Glenfield and Hyzy will report to Banks.

Lorna Sabbia, head of retirement and personal wealth solutions, will now report to Terry Laughlin. She is responsible for institutional and personal retirement and preferred segment solutions across Merrill Lynch Wealth Management, Merrill Edge and Bank of America. Sabbia’s existing team will continue to report to her.
Glenfield, O’Neil, Nancy Fahmy and Sabbia currently report to Andy Sieg, in his role as head of Global Wealth and Retirement Solutions.