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An advisor staff managing $3.5 billion in shopper belongings has joined the Merrill Personal Wealth Administration division from J.P. Morgan Wealth Administration, Financial institution of America stated Friday.
From 2020 to 2023, the 12-person staff labored for First Republic Financial institution, which was acquired by JPMorgan in Could. The staff joined First Republic in early 2020 after an extended stint at J.P. Morgan Securities.
The Palm Seashore Gardens, Florida-based group focuses on ultra-high-net-worth and high-net-worth shoppers and contains two senior monetary advisors: Salvatore Tiano, who began within the trade in 1989 and joined JPMorgan in 1991, and John Smyth, who started his profession in 1994 and moved to JPMorgan in 2010, in accordance with FINRA Brokercheck.
The staff additionally has 4 wealth managers — Greg Saville, Daniel Tumba, Justin Makso and Jason O’Brien — and 6 shopper associates, who’re Kristin Kochanski, Danielle Rojas, Elena Saveleva, Lina Hued, Hannah Foster and Lou Ventura.
On Tuesday, Financial institution of America stated its International Wealth and Funding Administration unit grew first-quarter income by 5% yr over yr to $5.6 billion, whereas its earnings jumped 10% to $1 billion.
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