Zagury bids adieu to Merrill Lynch - BAC & GS

Northern, WI 03/12/2013 (avauncer) - Raphael Zagury, was the head of the structured solutions at Bank of America Corp (NYSE:BAC)’s Merrill Lynch. All ultra-wealthy clients of the bank were handled by him and he had been working at the firm for over five years. He has now resigned from his high profile post and there is no definite information about whether he has joined any other firm. He worked with the Goldman Sachs Group, Inc (NYSE:GS)’s structured solutions group before joining Merrill at the end of 2007.

A heavy duty career path
He had a specialized repertoire of responsibilities at Merrill. He was in charge of individual structured solutions developments like customized derivatives products. He reported directly to Liam O’Neil, the markets group leader for Merrill who in turn reported to the head of retirement and philanthropic services at the firm. Even before working with Goldman, Zagury worked at the Safra Bank. Here, his role revolved around handling structured products for high-value customers located in Latin America. He had also worked as a portfolio manager at the Brazil-based hedge fund, Paradigma Capital Management.

Zagury was not immediately contactable for comment. Lisa Shalett, Merrill’s Chief Investment Officer left the firm at the beginning of February and right on the heels of her resignation, Zagury bid goodbye to Merrill. The portfolio strategies desk in charge, Rick Galiardo also left the firm. Merrill Lynch was acquired by the Bank of America Corp (NYSE:BAC) in 2009 and is the bank’s wealth management division. It has in excess of 15,000 financial advisors and handles client assets worth $2.2 trillion.

Shares of Bank of America Corp (NYSE:BAC) went up by 0.66% to close at $12.15
Shares of Goldman Sachs Group, Inc (NYSE:GS) went up by 0.21% to close at $153.30