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Merrill Appoint Head of Private Bank & Investment Group

Contributing Editor

19 December 2005

John Thiel has been appointed head of Merrill Lynch’s private banking and investment group in New York. He replaces James Hays, who is moving to Wachovia Securities to head its private client group. Mr Thiel currently runs the Pacific West Private Wealth Centre, which is a private banking hub in San Francisco. He will report to Andy Edelmann, who runs the private banking and investment group and financial advisor recruiting for the Americas. Merrill's private banking business, which caters to ultra-wealthy clients, those with at least $10 million in assets to invest, has around $380 billion in client assets under management. The division has six private banking hubs: Dallas, Atlanta, Chicago, San Francisco, Los Angeles and New York.