Rockefeller Lures in $5-Mln Merrill Lynch Duo in Cincinnati
Rockefeller Capital Management reeled in a Cincinatti, Ohio-based Merrill Lynch duo generating $5 million in annual revenue on Friday in a start to a traditionally busy Labor Day weekend for broker moves.
The team reports to Brett Thelander, a former mid-America regional manager for Merrill Lynch Private Wealth Management in Chicago who officially joined Rockefeller as its sixth regional director in May after a garden leave.
Rockefeller, which leans on a deep bench of former wirehouse managers to recruit, has restarted its hiring after a roughly two-month pause this summer as it digested a round of earlier hires. The firm has added 60 teams since it re-launched in 2018 with the recapitalization of the family office for the Standard Oil founder. It seeded the Cincinnati office in March with a $7.2 million Merrill team.
The New York-based upstart added a $2.1 million producer from regional bank Stephens Inc. in Atlanta last week and a $7.8 million UBS team in the same city the prior week. Both report to former Morgan Stanley manager Michael Outlaw, who has run Rockefeller’s Eastern Division since 2018.
For Merrill, the move is at least the second high-producing team of lifers to leave this week. A Washington State-based team that is led by William A. “Andy” Allison and Jay Buxbaum and produced $8.2 million in revenue on $1.6 billion in assets moved on Wednesday to Morgan Stanley Wealth Management.
That followed at least four other teams that had managed a combined $1.4 billion and have left since last Thursday.
A spokesperson for Merrill did not return a request for comment.
Merrill no longer breaks out its headcount at its core Merrill Lynch Wealth Management business, which it combines with several thousand private bankers at Bank of America private bank and consumer bank-based call center brokers.