Benz appointed Merrill Lynch Wealth Management APAC head

Merrill Lynch Wealth Management, a subsidiary of Bank of America, has appointed Michael Benz as head of Asia-Pacific (APAC) region, including India.

In this role, Benz is responsible for managing all aspects of wealth management and private banking in the region and for strengthening the service and capabilities available to clients in this important part of the world, Bank of America Merrill Lynch Asia Pacific said in an internal memo.

Prior to this, Benz was working with investment banking, asset management and wealth management of UBS since 1993.

The unprecedented rate of wealth creation in the Asia Pacific Region means the wealth management business is of critical strategic importance, it said.

Bank of America Merrill Lynch's full-service platform is uniquely positioned to offer tailored solutions to both corporate and individual clients, who are closely correlated in the region, it added.