STREET MOVES:Merrill Names New Head Of Global Invest Solutions
July 24 2009 - 12:30PM
Dow Jones News
Merrll Lynch Global Wealth Management, a unit of Bank of America
Corp. (BAC), named Chris Dupuy its new head of global investment
solutions.
In an internal memo reviewed by Dow Jones Newswires, Dan Sontag,
Merrill's brokerage chief, announced the move, effective
immediately.
Dupuy, who reports to Sontag, will be responsible for managing
financial products within the wealth management group, including
mutual funds, stocks, bonds, new issue, insurance, alternative
investments and structured products. In addition, he will oversee
manager due dilligence and portfolio construction for the
business.
Dupuy replaces Mitch Cox, who recently left Merrill to become
head of global investment and product office at Barclays Wealth, a
unit of Barclays PLC (BCS).
Recently, Dupuy, a 24-year Merrill veteran, served as head of
Americas distribution for global wealth management. Previously, he
was chief operating officer of the Americas bank group and a
national sales manager.
Several top executives left Merrill following the firm's
acquisition by Bank of America earlier this year. Recent
departures, who reported to Cox, included Tom Lee, head of product
origination; Steven Houston, head of product sales; and Paul
Morton, head of stock and bond sales - trading.
However, Merrill has been aggressive in adding financial
advisers to the wealth management group over the past few months.
The firm also plans to ramp up its adviser training program.
-Brett Philbin, Dow Jones Newswires; 212-416-2173;
brett.philbin@dowjones.com