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