The latest moves in wealth management across North America.

Merrill Lynch
Merrill Lynch, the wealth management arm of Bank of America, has dismissed Elias Dau, who was in charge of two offices in its Newport Beach, California, Family Wealth Report understands.

Dau has overseen the southern California offices since March 2014 and has worked at Merrill for about 14 years.

A Merrill spokeswoman confirmed his departure to this publication but declined to comment on the circumstances.

He began his career as a financial advisor with Equitable Life and its AXA Advisors unit in 1997. 

Raymond James
Raymond James has hired financial advisors Dean Dancer, T J Goelz, Steven Grossman and Joe Malave to Raymond James & Associates  – the firm’s traditional employee broker/dealer – in Sarasota, Florida.

The advisors operate as the Palm Avenue Wealth Advisory Group of Raymond James, and join from UBS, where they previously managed more than $480 million in client assets. 

Joining the advisors at Raymond James are Pamela Miller, senior registered client service associate, and Blake Caldwell, registered client service associate.

Dancer, senior vice president of investments, and co-founder of Palm Avenue Group, has been in the industry for more than 19 years. Prior to joining Raymond James, he served as a senior vice president, wealth management, and financial advisor with UBS and Smith Barney.

Goelz began his financial services career in 1993 at Barnett Bank, where he became a branch manager and later, a complex manager. He became a senior vice president and financial advisor with Smith Barney, where he and Dancer first became partners, before joining UBS. 

Grossman, vice president of investments, began his financial services career in 1999 after a career as a therapist. Before joining Raymond James, he served as a vice president, wealth management, and financial advisor with UBS and a second vice president and financial advisor with Smith Barney.

Malave, vice president of investments, has more than 24 years of financial services industry experience. Prior to Raymond James, he served as a financial advisor with UBS and NFP Securities. 

SunTrust Private Wealth Management
SunTrust Private Wealth Management has hired a four-member brokerage team at its regional headquarters in Charleston, South Carolina. They will be serving the Lowcountry and eastern South Carolina.

The team, led by private financial advisors Jeff Pratt and Bryan Kazley, has more than $500 million in assets under management.

Alongisde Pratt and Kazley, the team consists of investment associate Andy Stroer and investment associate Whitney Dieter. 

They join STPW from Wells Fargo.

Bernstein Private Wealth Management
Bernstein Private Wealth Management, a unit of AllianceBernstein, has appointed Daniel Eagan as senior vice president and managing director to lead its private wealth practice in San Francisco. 

In this role, Eagan will be responsible for the oversight of client service, management and strategic growth of Bernstein’s business in the region.

Eagan had a 20-year career at AllianceBernstein. Prior to rejoining Bernstein in 2018, Eagan was a director in the portfolio management group of Hirtle Callaghan. 

In addition, William Grayson has been promoted to national director of family offices in the San Francisco office. 

He will be responsible for working with family offices, ultra-high net worth clients and their professional advisors to provide a range of sophisticated wealth planning and investment services. 

Grayson joined Bernstein nearly a decade ago. Prior to Bernstein, he was the president of a SEC-registered investment advisor and hedge fund firm, and before that, vice president at JP Morgan & Co. and Montgomery Securities. 

Citi Private Bank
Citi Private Bank’s senior portfolio manager and head of multi-asset class solutions in London, Atul Bansal, is to leave the firm, this publication understands.

Bansal is lead portfolio manager of a team of two, which oversees portfolio construction and asset allocation of the firm’s discretionary multi-asset, multi-manager portfolios for clients in the UK, Europe, Middle East, Africa and Latin America.  

He has been at Citigroup since 1989.

David Hertan, director and senior portfolio manager in the Macs group at Citi Private Bank, has taken over Siegel’s responsibilities for the time being.

A spokesperson for the firm confirmed the story to this publication.