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Lindsay Hans, the top of Merrill Non-public Wealth Administration’s Northeast division, will take over main Non-public Wealth Administration, in response to the corporate. Hans is succeeding Don Plaus, who introduced his retirement final week after 32 years on the agency.
Plaus’ retirement and Hans’ ascension into his vacated position of head of Non-public Wealth Administration, Worldwide and Institutional, means Keith Glenfield, the top of the agency’s Funding Options & Private Retirement division, will succeed Hans as the manager for Merrill’s Northeast division. Nancy Fahmy, the top of Various Investments, will proceed in that position whereas taking over Glenfield’s purview of funding options.
In a press release, Merrill Wealth Administration President Andy Sieg stated the shuffled management positions would assist drive “accountable progress” for the corporate.
“Now we have a deep bench of industry-leading expertise with numerous views,” Sieg stated. “Lindsay, Keith and Nancy are top-performing leaders who will proceed to advance our fashionable Merrill technique in these expanded roles.”
Hans took over on the Northeast division, one of many agency’s largest, in late 2021 after earlier head Invoice Lorenz retired. Previous to that, Hans ran the agency’s Mid-Atlantic Division.
Hans will proceed to behave as a member of the Financial institution of America International Range and Inclusion Council and as a Nationwide Govt Sponsor on the Merrill Girls’s Alternate. She was first registered with UBS in 2001 earlier than shifting to Merrill in 2014, in response to her BrokerCheck profile.
Nancy Fahmy (left) and Keith Glenfield
Glenfield, who will succeed Hans within the Northeast division, joined Merrill 27 years in the past, and can proceed to work on enterprise integration throughout the agency. At present, Glenfield additionally serves as chair of the Cash Administration Institute’s Board of Administrators.
Fahmy is on the board of the Institute for Portfolio Options, and in addition works as part of the Restricted Accomplice Advisory Council for Sponsors for Academic Alternative and is a member of the Girls’s Management Council.
The personnel shifts come after Merrill Wealth reported that it had boosted its advisor headcount year-over-year amongst “all wealth administration companies,” in response to its This fall 2022 earnings report. Through the earnings name in January, Sieg predicted the agency would proceed to see 3% to 4% common advisor progress per yr within the subsequent decade.
“The expansion I’m speaking about, the three% to 4% progress in advisors, a great deal of that may happen within the Merrill enterprise, given the size of the Merrill enterprise and the central position that advisors play in serving high-net-worth and ultra-high-net-worth shoppers, particularly,” he stated in the course of the name. “You simply can’t overstate the position an advisor performs.”
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