John Thiel, head of Bank of America Merrill Lynch Wealth Management (BAC), has announced two leadership changes to the organization, which includes some 14,500 advisors.
Late Tuesday, the group tapped Sabina McCarthy to assume the new role of vice chairwoman. This means she will give up her post as division executive for the New York metropolitan area, and Jeffrey Tucker will succeed in that position.
During her career at Merrill Lynch, McCarthy has worked as a financial advisor, regional managing director and division executive.
“As vice chairman, she will continue to be a key member of our leadership team, focusing on furthering client relationships and acting as a liaison for new and prospective clients, in particular driving collaboration by making connections to the breadth of Bank of America’s capabilities,” Thiel explained in a memo.
Tucker is now one of 10 divisional executives “leading our business forward in delivering a consistent client experience to every client,” according to Thiel.