Bank of America Corp. named Chris Hyzy to lead the the newly combined chief investment office for global wealth and investment management.
The bank is merging the chief investment offices for its Merrill Lynch and U.S. Trust units, according to a memo to employees. Hyzy previously was chief investment officer for U.S. Trust and will report to Andy Sieg, Bank of America’s head of global wealth and retirement solutions, and U.S. Trust President Keith Banks.
Ashvin Chhabra, former CIO of Merrill Lynch Wealth Management, is leaving to run a family office that the memo didn’t identify. A spokeswoman for the Charlotte, North Carolina-based bank declined to comment on the changes, which Reuters reported earlier Friday.