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The team, led by financial advisor Ting O'Connor, left because they were unhappy with Merrill's culture and wanted better working conditions for their support staff, a recruiter said.
Operator Good day, everyone, and welcome to the Bank of America Earnings Announcement. At this time, I'd like to turn the program over to Lee McEntire.
Merrill Lynch chief operating officer Kirstin Hill is leaving the firm, the company disclosed Friday in a memo to staff.
After 13 years at the helm, Wise's exit has sparked a search for the fintech provider's next full-time CEO.
Although the bank's wealth businesses logged strong organic growth for the quarter, revenue fell and hiring languished after two strong quarters of headcount gains under then-president Andy Sieg's leadership.