Merrill Lynch News

NEW DELHI:Six-time member of Parliament Jyotiraditya M. Scindia is not new to the telecom ministry.

Krautzberger will join the asset manager in August after 19 years at BlackRock, where he most recently worked as head of EMEA fundamental fixed income. Before that, he was CIO at BlackRock Asset Management Deutschland. Before joining Merrill Lynch Investment Managers in 2005, which later merged with BlackRock in 2006, he headed up the European fixed income team at Union Investment. In his new role, Krautzberger will oversee the management of €171bn fixed income assets, reporting to global head of investments Deborah Zurkow. He will also become a member of AllianzGI's investment execut...

Advisor360 is looking to kickstart its next leg of growth with a veteran hire from Bank of America.

Raymond James is extending its reach to the far North as it adds two breakaways from wirehouse giants in Alaska who reportedly oversaw more than half a billion dollars in combined assets at their former firms.

A pair of former Merrill Lynch advisors have made a break for independence by launching their own billion-dollar RIA practice.

Chicago isn’t a beacon for free markets these days, but the city has been home to some of the visionaries of today’s financial system. The Chicago History Museum this month is saluting one of those creators, 92-year-old Leo Melamed, whose journey is a reminder of an era when financial innovation changed the world for the better. Mr.

Merrill Lynch has agreed to pay nearly $20 million to settle a class-action lawsuit that accuses the Wall Street brokerage giant of racially discriminating against its Black financial advisers

Merrill Lynch and its parent company, Bank of America, have are paying nearly $20 million to resolve a class action lawsuit alleging discriminatory practices against African American financial advisors.

Merrill Lynch is the latest broker-dealer to report a snafu in handling client private data, with the Maine Attorney General’s office last week disclosing that Merrill, as the record keeper for Walmart’s 401(k) plan, revealed private client information to an “unauthorized recipient” having nothing to do with the plan.

Steward Partners is strengthening its profile in Florida as it welcomes a women-led practice from Merrill Lynch.

Raymond James is further solidifying its presence in the northeast as it welcomes a team from Merrill Lynch to its employee advisor channel.

LPL has deepened its high-net-worth advisory bench with a pair of breakaway advisors from Merrill Lynch.

RBC Wealth Management has expanded its presence in the Northeastern US as it swipes two seasoned advisor groups from Merrill Lynch.

Raamdeo Agrawal, Chairman, Motilal Oswal, says “in the last 25 years, total savings in the Indian economy was $10-12 trillion. But in the next 25 years, it is going to be $100 to $150 trillion and it is going to hit us every day. It is hitting us every day. This is the journey of India. By 10th or 12th year, India would be accumulating almost $5-6 trillion of savings per year. We are going to give birth to Morgan Stanley, Merrill Lynch, a big JPMorgan or big asset management company out of India with a serious scale.” There are a lot of themes in this market, PSUs, defence, railways but one theme which you have really understood over the years is autos and auto seems to be in a great patch now. Two-wheelers are doing well. Escorts is also looking well. Maruti is doing well, Tata Motors is doing well. Do you see this kind of a comeback in the autos, especially at the discretionary end of the market, to last for the next two-three years? Raamdeo Agrawal: So long as you have the rallies going on in the capital market, which is another source of what you call wealth creation for the people at large, they are going to use their market cap power or financial wealth that they have created in their portfolios for buying discretionary stuff, whether it is high-end housing, high-end cars, high-end fashion, travel, all luxurious things.

Raymond James has strengthened its national presence with the addition of two financial advisors in Florida and New Mexico.

If there's one bank that's been consistently bullish about recruitment, it's Alantra, the mid-market Spanish investment bank that's been expanding for the past few years. More recently, however, Alantra's expansionary message has become a bit more equivocal. 

Morgan Stanley, one of the leading financial institutions, is reportedly exploring the possibility of expanding its sales of Bitcoin exchange-traded funds (ETFs) by allowing its approximately 15,000 brokers to actively recommend these products to customers. 

One analyst recently noted that LPL Financial’s acquisition of Atria Wealth Solutions could prove complex given its many moving parts, with Atria’s seven broker-dealers shifting the client assets of 2,400 financial advisors to LPL’s platform.

Large firms with thousands of financial advisors working in various capacities appear to have turned the tide, at least for now, on losing advisors to their competitors or retirement, with Merrill Lynch showing a dramatic decrease in the number of advisors who left in 2023.

UBS Private Wealth Management is expanding in New York City as it welcomes a new team from Goldman Sachs. On Friday, UBS announced the addition of Regina Bronson and Alex Gitomer as managing directors and private wealth advisors, highlighting the duo’s vast experience and commitment to servicing ultra-high-net-worth clients.

A spokesperson for the firm told Investment Week that Krautzberger, who is also the lead portfolio manager for its euro fixed income portfolios, will be departing for a new opportunity. Krautzberger's tenure at the firm dates back to 2005, including a period with Merrill Lynch Investment Managers as head of the European fixed income aggregate portfolio team, before the firm merged with BlackRock in 2006.  From 2011 to 2014 he served as chief investment officer and member of the board of BlackRock Asset Management Deutschland.  Amundi poaches global ETF head from BlackRock «We th...