Andy Sieg, the head of Retirement & Philanthropic Services (RPS) for Bank of America Merrill Lynch who was hired in September from Citigroup by Sallie Krawcheck, president of Bank of America Global Wealth and Investment Management, has realigned his team, the bank reported yesterday.
RPS provides institutional and personal retirement solutions and comprehensive investment advisory and philanthropic services to individuals, small to large corporations, pension plans, endowments and foundations. RPS is responsible for over $450 billion in client assets. As part of this realignment:
Kevin Crain will run Institutional Client Relationships, responsible for institutional retirement business development and client relationship management for over 1,500 plan sponsors and four million participants. Crain is also responsible for oversight of legislative and public policy issues pertaining to retirement. Crain had run Plan Participant Solutions.
Aimee DeCamillo will run the Personal Retirement Solutions business, which will include Plan Participant Solutions, to help guide clients to an individual retirement platform provided by Merrill Lynch Global Wealth Management. DeCamillo, who reports to Sieg, will continue to serve as head of Personal Retirement, 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.
David Roberts has rejoined Bank of America Merrill Lynch to run Equity Plan Services, the equity plan platform and the executive advisory services program, and the non-qualified deferred compensation platform. He will work with DeCamillo and others in GWIM to drive wealth management relationships within the equity plan business. The addition of Roberts is intended strengthen the business’ equity plan platform and infrastructure, considered a growth opportunity for GWIM. Bank of America Merrill Lynch serves more than 600 equity plans covering nearly 2.5 million participants in more than 100 countries, including 21 of the Fortune 125 companies, as of Sept. 30, 2009.
Other members of Sieg’s leadership team include: Paul Cummings, head of Institutional Investment & Advisory Services; John Furlong, head of Institutional Benefit Plans; Cary Grace, head of Philanthropic Management; Barry Lindenbaum, head of RPS Operations & Technology; and Kabir Sethi, head of Strategy & Institutional Business Office.
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