Merrill Promotes NYC’s Jeff Tucker to Exalted Circle of Ten
After a long period of quietus in its management ranks, Merrill Lynch has named a new head of its New York City metro division.
Jeffrey Tucker was appointed to the post, according to a memorandum circulated throughout Merrill Lynch Wealth Management on Tuesday afternoon. Tucker had overseen some 200 advisors with more than $35 billion of client assets at Merrill’s prestigious Fifth Avenue Financial Center in New York City, according to the memo.
In his new position as one of ten Merrill divisional executives, Tucker replaces Sabina McCarthy, according to the memo from Wealth Management head John Thiel.
McCarty has accepted a newly created role as vice chairman of ML Wealth Management, a title that often connotes an ambassadorial role at Wall Street firms. McCarthy will “continue to be a key member of our leadership team, focusing on furthering client relationships,” Thiel wrote. In a nod to Merrill’s parent, he said she will particularly try to drive “collaboration by making connections to the breadth of Bank of America’s capabilities.”
A replacement for Tucker, who joined Merrill in 2007 and previously worked at UBS, Dean Witter and Prudential Securities, will be named at a later date, Thiel wrote.
Here’s a copy of the memo:
We are pleased to announce two important leadership changes within Merrill Lynch Wealth Management. Sabina McCarthy will take on a newly created role of vice chairman, Merrill Lynch Wealth Management. Jeffrey Tucker will succeed Sabina as division executive for the New York City Metro Division.
Over her career at Merrill Lynch, Sabina has served as a financial advisor, regional managing director and division executive. As vice chairman, she will continue to be a key member of our leadership team, focusing on furthering client relationships and acting as a liaison for new and prospective clients, in particular driving collaboration by making connections to the breadth of Bank of America’s capabilities.
Jeffrey Tucker will join our leadership team and will be one of 10 divisional executives leading our business forward in delivering a consistent client experience to every client. Jeffrey began his financial services career in 1997 and currently serves as market executive for the Fifth Avenue Financial Center, overseeing 200 financial advisors and more than $35 billion in client balances. Jeffrey has been a highly successful leader bringing his varied experiences as a financial advisor, sales manager, training manager, and market executive for one of our largest markets. A replacement for Jeffrey will be named at a later date.
Please join me in congratulating Sabina and Jeffrey on their new roles.
Head of Merrill Lynch Wealth Management