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Bank of America's Merrill Lynch business creating new national role - Business Insider

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Merrill Lynch just created a new role to oversee its 100-plus markets for US financial advisers and address a 'substantial difference' in performance around the country

on Tuesday named Craig Young, previously a market executive with the firm on the East Coast, as its first national business development executive. Young will be based in New York and report to Andy Sieg, the president of Merrill Lynch.

"At the market level, there's substantial difference in terms of how strongly we're performing," he said. A spokesperson declined to provide examples of markets with disparate performance levels. More generally, market executives tend to track measures including market profit and loss, customer acquisition and growth revenue.

He'll now oversee internal organizations including Merrill Lynch's Advisor Growth Network and the Market Executive Strategy Council, which partly aim to forge communication between financial advisers and business leaders.

 

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