Merrill Lynch has renamed its institutional-advisor group and hired a new team as part of its plans to expand these operations, an executive said Tuesday.
“In the institutional space, we have many clients, including foundations, endowments and corporate pension plans,” said Tom McAuliffe, managing director of Global Institutional Consulting, in an interview with AdvisorOne. “These financial advisors have found a nice niche to develop in the marketplace.”
McAuliffe was hired by Merrill about six months ago. Previously he worked for Morgan Stanley Smith Barney’s institutional arm, Graystone Consulting, as well as for UBS.