Merrill Shifts New England Market Managers After Vet Bolts to UBS
Bank of America Merrill Lynch has transferred Chris Bettencourt to run its Boston market following the departure of Greg Achten earlier this month to UBS.
Bettencourt had been market executive — Merrill’s appellation for what many rivals call “complex managers” — in Hartford, Conn. There was a vacancy in the slightly larger Boston market after Achten, who had been with Merrill for than 25 years, took a post as complex manager with UBS in Cincinnati, Ohio on April 19.
Merrill has 120 market managers helping to oversee its more 14,000 brokers. The firm has approximately 149 advisors in boston and 135 in Hartford, according to a spokeswoman.
Bettencourt joined Merrill Lynch in 2004. His position in Hartford has been assumed by Shamus O’Rourke, who became market executive for Northern New England in 2014.
Merrill’s New England management has been in flux. Thirty-year veteran Susan Cruz, who was most recently a branch manager in New Haven, left in January. A spokeswoman said Merrill has not named a replacement Cruz.
Late last month, Merrill appointed Racquel Oden, its former head of training, as market executive for its $35 billion-asset flagship Fifth Avenue branch in New York City. She replaced Jeffrey Tucker, who was promoted to head Merrill’s New York Metro division, one of ten divisions at the firm.
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