Merrill Management Merry-Go-Round Spins in Dallas
Merrill Lynch has named a new manager for its Dallas “Galleria” office, continuing a steady round of management shifts in Texas, according to two sources familiar with the move.
The Galleria office has been run for about two years by resident director and producing manager Jon S. Blair. He replaced branch manager and market executive Michael Armondo, who left Merrill after 25 years in March 2019 to join Rockefeller Capital Management.
Robles, whose Frisco team website says he began his Merrill Wealth career in 2004 in its research and economics group and employs a “proprietary investment strategy” for clients, declined to comment. Blair, a 36-year industry veteran who has worked at Merrill since 2005, did not return a call for comment.
Merrill’s Dallas offices are part of the Texas Mountain South region that has been run since March 2019 by Carole Wentz. She was shuffled from a California complex to replace regional director Vincent J. Fertitta, Jr., now president of Sanctuary Wealth, an independent broker-dealer founded by Jim Dickson, another former Merrill regional director.
Merrill Wealth has six geographic regions, including one about to be vacated by Southeast division executive Eric Schimpf. Bank of America last week shifted Schimpf to a new role as cohead of advisor development, a hybrid training unit for Merrill Wealth and the bank’s Merrill Edge producers, who operate through different customer service and compensation schemes.
Merrill Wealth President Andy Sieg said Schimpf will also run a new non-geographic division housing the firm’s Community Markets group of advisors in locations far from Bank of America branches, its Advisor Growth Program for early-career recruits from other firms and its training programs.
A Merrill spokesman said a replacement for Schimpf has not yet been named.