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BofA/Merrill Shuffles Retirement Group’s Management

By Matt Ackermann
December 8, 2009
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Bank of America Global Wealth & Investment Management announced Tuesday it has realigned its retirement management team.

Andy Sieg, who was hired in September as head of retirement and philanthropic services for Bank of America Merrill Lynch, said the company decided to make the changes to “help further focus the business on meeting the needs of its personal and institutional clients and to support strategic growth areas of its business.”

As part of the realignment, Kevin Crain will now serve of head of institutional client relationships, responsible for institutional retirement business development as well as client relationship management. Crain, who was head of plan participant solutions, is also responsible for oversight of legislative and public policy issues pertaining to retirement.

The company’s personal retirement solutions business will now expand to include plan participant solutions. Bank of America Merrill Lynch made the change to help ensure that clients have access to an integrated individual retirement platform provided by Merrill Lynch Global Wealth Management. Aimee DeCamillo, who will continue to serve as head of Personal Retirement, will lead this new group. She will be responsible for retirement education and planning, IRA products and rollover process, 401(k) plan participant solutions, 529 plans, health savings accounts, retirement income solutions and channel management.

Bank of America/ Merrill Lynch has also rehired David Roberts as head of equity plan services. He will be responsible for managing its equity plan platform and the executive advisory services program, as well as the non-qualified deferred compensation platform. Roberts left the brokerage firm earlier this year after BofA acquired Merrill in January.