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☆ Merrill's Lindsay Hans and Eric Schimpf were thrust to the top of the $3.3 trillion wealth unit last year. Here's a look at their new playbook.
  + stars: | 2024-04-22 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +9 min
Thirteen months ago, Andy Sieg unexpectedly left Merrill Wealth Management to run Citi's ailing wealth unit. His replacements, Lindsay Hans and Eric Schimpf, had big shoes to fill. Hans and Schimpf were company veterans but lesser known before they were anointed to lead the $3 trillion wealth business attached to behemoth Bank of America. Schimpf is more soft-spoken than his cohead Hans, who was promoted to run the private wealth business one month before Sieg left. AdvertisementMerrill has the benefit of being part of a bank with some 69 million consumer bank clients.
Persons: Andy Sieg, Lindsay Hans, Eric Schimpf, Merrill, Hans, Schimpf, Sieg, Lindsay, it's, Sieg's, Louis Diamond, Schimpf's, Hans said, AdvisorHub Organizations: Service, Merrill Wealth Management, behemoth Bank of America, Business, Merrill, Army, UBS, Schimpf, Northeast, Merrill . Bank of America, Bank of America, Customers, Bank of, First, JPMorgan Locations: Los Angeles, Coast, New York City, Nevada, First Republic, Merrill
☆ Equity market rally will likely continue as bond yields have peaked, says Merrill's Lindsay Hans
  + stars: | 2023-11-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEquity market rally will likely continue as bond yields have peaked, says Merrill's Lindsay HansLindsay Hans, president and co-head of Merrill Wealth Management, joins 'Closing Bell' to discuss the equity market and her economic outlook.
Persons: Merrill's Lindsay Hans Lindsay Hans Organizations: Equity, Merrill Wealth Management
☆ We think traditional asset allocation works, says Merrill Wealth Management's Eric Schimpf
  + stars: | 2023-11-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe think traditional asset allocation works, says Merrill Wealth Management's Eric SchimpfEric Schimpf, Merrill Wealth Management president and former U.S. Army Infantry Officer, joins 'Squawk Box' to discuss his experience serving in the military, the latest market trends,
Persons: Merrill, Eric Schimpf Eric Schimpf Organizations: Merrill Wealth Management, U.S . Army Infantry
☆ Citigroup bets on ex-BofA exec Andy Sieg's connections to revamp wealth unit
  + stars: | 2023-04-14 | by ( Lananh Nguyen Saeed Azhar | Lananh Nguyen | Saeed Azhar | ) www.reuters.com   time to read: +4 min
That makes the business less than half the size of Bank of America Corp's (BAC.N) Merrill Wealth Management arm, the $18-billion behemoth Sieg ran until he left last month. Another challenge is that Citi has historically been undersized and a bit of a laggard in the space...especially in the wealth business where it’s all about existing relationships." In some ways, Citigroup is playing catchup after selling its old wealth business, Smith Barney, a decade ago to Morgan Stanley, which then leaned heavily into wealth management. That bet paid off - Morgan Stanley's wealth unit, led by Andy Saperstein, brought in record revenue last year. Two years ago, Citigroup unified its various wealth businesses into a single organization led by Jim O'Donnell that included its private bank and personal wealth division.
☆ Citigroup bets on ex-Bank of America executive Andy Sieg's connections to revamp wealth unit
  + stars: | 2023-04-14 | by ( Lananh Nguyen Saeed Azhar | Lananh Nguyen | Saeed Azhar | ) www.reuters.com   time to read: +4 min
That makes the business less than half the size of Bank of America Corp's (BAC.N) Merrill Wealth Management arm, the $18-billion behemoth Sieg ran until he left last month. Another challenge is that Citi has historically been undersized and a bit of a laggard in the space...especially in the wealth business where it’s all about existing relationships." In some ways, Citigroup is playing catchup after selling its old wealth business, Smith Barney, a decade ago to Morgan Stanley, which then leaned heavily into wealth management. That bet paid off - Morgan Stanley's wealth unit, led by Andy Saperstein, brought in record revenue last year. Two years ago, Citigroup unified its various wealth businesses into a single organization led by Jim O'Donnell that included its private bank and personal wealth division.
☆ Citigroup hires BofA Merrill's head Andy Sieg to lead wealth unit
  + stars: | 2023-03-31 | by ( Lananh Nguyen Jaiveersingh Shekhawat | Lananh Nguyen | Jaiveersingh Shekhawat | ) www.reuters.com   time to read: +3 min
March 30 (Reuters) - Citigroup Inc (C.N) hired Andy Sieg to lead its global wealth arm, the lender said on Thursday, from Bank of America Corp (BAC.N), where he led the Merrill Wealth Management unit. Two years ago, Citigroup unified its various wealth businesses into a single organization led by Jim O'Donnell that included its private bank and personal wealth management divisions. Fraser signaled the bank's intention to become a global leader in wealth management at its investor day last year. "This is a fantastic opportunity to build a leading wealth management business at the world's most global bank at a time of massive wealth creation," he said in a statement. Sieg's departure prompted the appointments of Lindsay Hans and Eric Schimpf as co-leads of Merrill Wealth Management, Bank of America said in a separate statement.
☆ Citi hires BofA Merrill's head Andy Sieg to lead wealth unit
  + stars: | 2023-03-30 | by ( Lananh Nguyen Jaiveersingh Shekhawat | Lananh Nguyen | Jaiveersingh Shekhawat | ) www.reuters.com   time to read: +1 min
March 30 (Reuters) - Citigroup Inc (C.N) on Thursday it has hired Andy Sieg to lead its global wealth arm from Bank of America Corp (BAC.N), where he led the Merrill Wealth management unit. Two years ago, Citigroup unified its various wealth businesses into a single wealth management organization, which was led by Jim O'Donnell and included the Citi Private Bank and Citi Personal Wealth Management. At its investor day last year, Fraser signaled the bank's intention to become a global leader in wealth management. Sieg's departure led to the appointments of Lindsay Hans and Eric Schimpf as co-leads of Merrill Wealth Management, Bank of America said in a separate statement. Sieg joined Merrill Lynch in 1992 and had served as Merrill president since 2017.
☆ Bank of America's Andy Sieg is joining Citi as head of global wealth
  + stars: | 2023-03-30 | by ( Darla Mercado | Cfp | ) www.cnbc.com   time to read: +1 min
Andy Sieg, a veteran of Merrill Lynch, is parting ways with Bank of America to join Citigroup . He will be the new head of Citi Global Wealth, reporting to Jane Fraser, the bank's CEO. Previously, Sieg was president of Merrill Lynch Wealth Management, a post he's held for six years. He was also a member of Bank of America's executive management team. Separately, Bank of America announced that Lindsay Hans and Eric Schimpf have been appointed presidents and co-heads of Merrill Wealth Management.
☆ You have to be bullish in the medium to long term, says Merrill Wealth's Seig
  + stars: | 2022-10-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou have to be bullish in the medium to long term, says Merrill Wealth's SeigAndy Sieg, president at Merrill Wealth Management, joins CNBC's 'Squawk Box' to discuss the market's performance during the 1980s, what being an employee at a firm like Merill Wealth is like during market downturns and more.
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