Merrill Lynch’s private-banking group is reshuffling its leadership to enhance the experiences of its ultra-high-net-worth clients.
Don Plaus, head of Private Banking & Investment Group (PBIG), International and Institutional for Merrill Lynch — which includes 380 private wealth advisors — announced the changes earlier this week.
The firm says it will bring experts now serving non-U.S. and PBIG clients together into one team. It also is creating a new sub-unit called Strategic Wealth Advisory Services, which will provide specialized services for PBIG, International or Institutional clients — like “wealth structuring, generational wealth and family planning, and day-to-day wealth complexity management,” according to a memo.
“With these organizational changes in place, I’m confident we’ll optimize our opportunities and help advisors leverage the resources of Bank of America and Merrill Lynch to meet the unique needs of our clients,” said Plaus, in a statement.