Merrill Names New Head of Private Wealth Management
What You Need to Know
The announcement in March that Andy Sieg would be departing as Andy Sieg, head of Merrill Wealth Management has set off a cascade of leadership changes.
Lindsay Hans and Eric Schimpf will be replacing Sieg as co-heads of Merrill Wealth Management.
Greg McGauley to serve as head of Merrill Private Wealth Management, International and Institutional.
Merrill Lynch has appointed Greg McGauley to serve as head of Merrill Private Wealth Management, International and Institutional, parent company Bank of America said late Friday.
The news, which also included other senior management changes, comes after the firm announced in February that Lindsay Hans would succeed Don Plaus as head of Private Wealth Management, International and Institutional, following Plaus’s decision to retire after 32 years with the firm.
However, when the company announced in March that Andy Sieg, head of Bank of America Merrill Wealth Management since 2017, had left the firm and was set to join Citigroup in six months, Bank of America said Hans and Eric Schimpf would be replacing Sieg as co-heads of Merrill Wealth Management.
McGauley has been the leader of the Northeast Region of Merrill Private Wealth Management since 2009.
He joined Merrill in 1994 as a financial advisor in Hyannis, Massachusetts. His leadership roles at Merrill since then included leading Private Wealth Services and serving as director of the Rockefeller Center Market and SD Market.
McGauley will “transition over the coming weeks,” the company said Friday, as Plaus also transitions into retirement.
Commenting on the appointment of McGauley, Hans and Schimpf said in a joint statement provided to ThinkAdvisor, “With the appointments of these leaders, Merrill remains well-positioned to drive responsible growth and deliver for our clients, advisors, and partners. Their experiences and success — in field leadership, serving clients, and leading our growth and advisor training programs — add tremendous knowledge and valuable perspectives to our leadership team.”
Other Management Changes
Brian Ludwick, who has served as Houston market executive since January 2021. was named Pacific Coast Division executive. He joined Merrill as a financial advisor in the Crystal River, Florida, associate office. In 2003, he started his leadership career as a resident director and, since then, has held several leadership positions, including market executive positions in Louisville and Western Pennsylvania.
Lydia DiClemente was appointed head of Merrill Banking Enablement and Merrill Financial Solution Advisors. Along with driving growth through the firm’s MFSAs, she will also “lead work to enhance how we deliver our banking capabilities to Merrill clients in partnership” with April Schneider, head of Wealth Management Banking and Lending, the firm said.
