Could 8, 2020
Boston, MA John Coletti/The Picture Bank/Getty Photographs
Morgan Stanley has employed a 24-year Merrill Lynch and Bank of America veteran to run a big department in downtown Boston.
Cheryl Vozzella confirmed that she was named supervisor this week of Morgan Stanley’s 125 Excessive Road department after a Merrill profession that culminated together with her serving as affiliate complicated supervisor of 5 Boston branches.
In her new publish, she oversees greater than 100 brokers overseeing about $35 billion of shopper cash and producing about $200 million of annual income, in response to her LinkedIn profile. She declined to touch upon the explanations for her transfer.
After a retreat from hiring veteran advisors that was accented by its withdrawal from the Protocol for Dealer Recruiting two-and-a-half years in the past, Morgan Stanley has resumed its effort to fill desks. Vozzella wouldn’t touch upon her particular mandate, however her resume lists “recruiting and retaining top-performing Financial Advisors” as one among her major expertise.
Vozzella is the second veteran girl to go away a Merrill managerial publish in as many weeks. Gina Sorrells, who spent all however 10 months of her 23-year brokerage profession with the Thundering Herd, left final week to be a part of J.P. Morgan Securities as a regional director in Atlanta. Merrill stays within the Dealer Protocol however wealth administration President Andy Sieg has stated the corporate continues to give attention to working with its Bank of America dad or mum to develop brokers quite than hiring skilled brokers from opponents.
Vozzella, who started her profession in 1996 as an analyst at a former Bank of America mutual fund firm, served in a number of gross sales technique roles at Merrill and at BofA’s U.S. Belief non-public bank earlier than turning into affiliate market government of Merrill’s five-office Boston complicated two years in the past, in response to her resume.
The Morgan Stanley department administration publish at 125 Excessive Road position had been vacant since September, when Jeff Swartz was elevated to supervise a redrawn downtown Boston complicated.
A Merrill Lynch spokeswoman didn’t return a request for touch upon whether or not Vozzella shall be changed at its complicated, which incorporates about 250 Boston advisors producing about $225 million in income, in response to Vozzella’s LinkedIn profile.