NEW YORK, April 13 (Reuters) - Bank of America’s Merrill Lynch has hired a top Morgan Stanley financial adviser who managed nearly $300 million in assets for clients based mainly in Latin America, the bank said on Thursday.
Based in Aventura, Florida, Leon Friedlander had worked at Morgan Stanley since 2006 where he managed $288 million in client money and generated $3.1 million in revenue for the firm over the past year.
He and Johanna Trujillo, a client associate, joined Merrill Lynch earlier this month because it has a wider selection of fee-based and advisory products, as well as “better choices in terms of lending,” Friedlander said in an email.
Bank of America has advisers in six Latin American countries serving primarily high net worth client families and businesses. Advisers who work in the international business follow strategies similar to those used by advisers in Merrill Lynch’s high-end Private Banking and Investment Group, or PBIG.
Last month, Don Plaus took over as the head of PBIG and the international business. Plaus was previously Merrill Lynch’s southeast division manager, overseeing advisers on the Gulf and east coast and in Puerto Rico. (Reporting by Elizabeth Dilts; Editing by Richard Chang)