Merrill Reshuffles NYC Market Leaders, Loses Houston Manager to Morgan Stanley

Merrill Reshuffles Market Leaders in NYC

Merrill Lynch is shifting field leaders around its key New York City market while a veteran market executive has jumped ship in Houston. 

As part of the New York moves, which fill a gap left by a year-end reorganization, longtime manager Dwight Mathis is moving from the Long Island East market to take over Merrill’s Rockefeller Center complex with 128 advisors in Manhattan. 

Merrill is also restructuring its Greenwich, Connecticut market to realign a White Plains, New York branch under an up-and-coming producing manager, Charles E. Branch, according to Northeast Divisional Head Lindsay Hans, who previously ran the firm’s Mid Atlantic region and announced the changes internally on Tuesday. 

The shifts aim to bolster Merrill’s market share in the New York area as it continues to focus on hiring early-career brokers and pushing its existing sales force to drum up net new accounts instead of recruiting experienced brokers from rivals. 

“These markets are among the two most affluent areas in the country,” Hans said in an interview. “The need for wealth management and advice among clients and prospective clients is very high, so we’re really doubling down there.” Read More

News, Advisor Moves, Development