Merrill Lynch Wealth Management Appoints Ashvin Chhabra as Chief Investment Officer, Head of Investm


Merrill Lynch Wealth Management Appoints Ashvin Chhabra as Chief Investment Officer, Head of Investment Management and Guidance

NEW YORK--(BUSINESS WIRE)-- Merrill Lynch Wealth Management today announced that Ashvin Chhabra is joining the firm as chief investment officer, head of Investment Management and Guidance (IMG). In his role, Chhabra will oversee the delivery of investment advice and strategy to Financial Advisors and their clients. He will also lead the IMG manager due diligence, investment analytics, and investment guidance teams, as well as the Ultra High Net Worth (UHNW) Investment Office.

Chhabra served as Merrill Lynch's head of Wealth Strategies and Analytics between 2001 and 2007. During his time at Merrill Lynch, Chhabra delivered pioneering work to link behavioral finance to portfolio construction, the foundation of Merrill Lynch's ability to deliver goals-based wealth management solutions to its clients.

Chhabra most recently served as the chief investment officer at the Institute for Advanced Study in Princeton, N.J. During his six years at the Institute, he worked closely with the Institute's Board of Trustees' Investment Committee, which is chaired by James H. Simons, founder of Renaissance Technologies.

"As an organization, we believe we bring unparalleled intellectual capital to bear on behalf of our clients and advisors. Our ability to attract leading talent is central to that effort," said Andy Sieg, head of Global Wealth and Retirement Solutions. "Ashvin has an impressive industry and academic career that makes him ideally suited to work with our advisors to deliver investment advice and guidance that helps our clients pursue their desired outcomes."

Prior to joining Merrill Lynch in 2001, Chhabra was head of Quantitative Research at J.P. Morgan Private Bank. He holds a Ph.D. in applied physics from Yale University and is recognized as a leader in the fields of investment management, risk and asset allocation, and risk management. Chhabra is a frequent lecturer at leading universities and a board member of numerous academic and industry groups.

Merrill Lynch Global Wealth Management
Merrill Lynch Global Wealth Management is a leading provider of comprehensive wealth management and investment services for individuals and businesses globally. With nearly 15,000 Financial Advisors and $1.8 trillion in client balances as of March 31, 2013, it is among the largest businesses of its kind in the world. Within Merrill Lynch Global Wealth Management, the Private Banking and Investment Group provides tailored solutions to ultra affluent clients, offering both the intimacy of a boutique and the resources of a premier global financial services company. These clients are served by more than 150 Private Wealth Advisor teams, along with experts in areas such as investment management, concentrated stock management and intergenerational wealth transfer strategies. Merrill Lynch Global Wealth Management is part of Bank of America Corporation.

Merrill Lynch Global Wealth Management (MLGWM) represents multiple business areas within Bank of America's wealth and investment management division including Merrill Lynch Wealth Management (North America and International), Merrill Lynch Trust Company, and Private Banking & Investments Group. As of March 31, 2013, MLGWM entities had approximately $1.8 trillion in client balances. Client Balances consists of the following assets of clients held in their MLGWM accounts: assets under management (AUM) of MLGWM entities, client brokerage assets, assets in custody of MLGWM entities, loan balances and deposits of MLGWM clients held at Bank of America, N.A. and affiliated banks.

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Reporters May Contact:
Susan McCabe, Bank of America, 1.646.855.4111

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