Macquarie Group Ltd
(ASX:MQG) has appointed a former US-based Merrill Lynch executive as head of its private wealth group.
Eric Schimpf will manage Macquarie Private Wealth’s 425 advisers in Australia, New Zealand and Asia.
He replaces Peter Coleman, who left Macquarie late last year.
Prior to joining Macquarie, Mr Schimpf had worked for Merrill Lynch since 1994.
He started as a financial broker and worked his way through a series of management positions, which included directing Merrill’s retail brokerage and high net worth businesses in the US.
Macquarie Private Wealth has about 232,000 clients.
For the 12 months to March 30, 2009, Macquarie reported a profit of $871 million.
