One Seasoned Manager Returns to Merrill, Another Old Pro Leaves Wells
In another sign of how volatile the job of complex manager has become in an era of wirehouse retrenchment, Merrill Lynch welcomed back longtime manager Dwight Mathis while Stifel Financial laid out the welcome mat for Wells Fargo’s longtime southwest Chicago market manager, Kevin Ortmeyer.
Mathis left Merrill last summer after a 15-year career managing offices in Charlotte, Albuquerque and Pittsburgh and, for a time, overseeing its training program for new advisors. He resurfaced on Monday as manager of the firm’s Long Island East market region in Melville, which includes six offices, according to its website.
In the interim, Mathis had been running the high-net-worth “premier investments” unit of SunTrust Bank’s private wealth management group in Atlanta. He did not immediately respond to a request for comment on his jump back into Merrill’s arms. While he was away, the mantle of running Merrill’s wealth group shifted from John Thiel to Andy Sieg, who has shifted the managerial ranks below him.
David E. Hogan, Mathis’ predecessor in the eastern Long Island complex, has moved to run the firm’s Philadelphia market. Hogan has spent his entire 33-year brokerage career with Merrill, according to his BrokerCheck record. He replaced Lindsay Hans, who Sieg elevated in March to run Merrill’s MidAtlantic division.
At Wells, Ortmeyer on Monday left as head of its private client group’s Chicago southwest market after some three decades with the bank-owned broker-dealer and predecessor firms that it acquired.
At Stifel, he will take on a divisional role based in the company’s St. Louis headquarters overseeing branches in Colorado, Illinois, Kansas, Missouri, Oklahoma and Texas.
Scott Zagurski, a complex manager who worked for Ortmeyer as manager of the private wealth group’s DeKalb and Geneva, Ill., branches has taken on his responsibilities pending naming of a replacement, a Wells spokeswoman said.
Ortmeyer, a Missouri State University graduate who began his brokerage career at Prudential-Bache Securities in 1987, did not respond to requests for comment. In addition to working at Wells at Pru, he spent almost three years at PaineWebber between 1989 and 1992.