Bank of America Asia-Pacific Wealth Management Head Antony Hung Retiring

Antony Hung, head of Asia-Pacific wealth management at Bank of America Corp.’s Merrill Lynch unit, is retiring after almost 18 years with the company, according to an internal memo.

Hung, 50, will pursue alternative professional interests, said the memo from Sallie Krawcheck, president of global wealth and investment management, and Brian Brille, president of Asia- Pacific operations. The contents of the memo were confirmed by Hong Kong-based spokesman Rob Stewart.

Bank of America ousted UBS AG as the world’s biggest wealth manager in 2008 after buying Merrill Lynch & Co., and retained its top position last year, according to London-based research firm Scorpio Partnership. The Merrill Lynch unit managed about $1.4 trillion of client assets as of the first half of this year.

Hung joined Merrill Lynch in 1993 in fixed-income sales covering Greater China. He became sole head of the debt, commodities and currencies businesses for Asia-Pacific in 2007, and was appointed to his current position a year later to bolster business from high net worth clients in the region.

Wilson So, head of North Asia global wealth management, will serve as interim head for Asia-Pacific wealth management, the memo said.

Hung wasn’t immediately available at his office to comment.

To contact the reporter on this story: Joyce Koh in Singapore at jkoh38@bloomberg.net

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