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Merrill Lynch PBIG team hires Sabadell advisor

Merrill Lynch PBIG team hires Sabadell advisor

Banco Sabadell Miami advisor Marcelo Tome has exited the firm after just over 18 months to join the Merrill Lynch Private Banking and Investment Group (PBIG) team as an investment associate.

Tome, who joined Sabadell as a senior advisor in January 2016, left in July to join Merrill's Miami-based PBIG team The Premia Group, led by advisors Steve Prellezo and Alberto Cosio, according to a source who wished to remain anonymous.

Merrill Lynch declined to comment on Tome's hire.

Tome joins after the exit of former Premia team members, wealth relationship manager Juan Doria and financial analyst Emanuel Casuscelli, to UCAP Securities in March.

Later that month, Bank of America Merrill Lynch filed a complaint against the Doria and Casuscelli for taking client information to a competitor. According to court documents, the case was closed at the end of April as the complaint was moved to be settled out of court.

At the time of the complaint the wirehouse said the Premia Group had been managing about $815 million in assets under management.

Additionally, the Premia Group also saw the exit of lead advisor Miguel Sosa in April 2016, who left Premia to launch an independent office with over $400 million in client assets.

He was separately involved with serving Merrill with a class action lawsuit over its international advisory shake-up, which has now been dropped.

Sabadell's selection

To take over his responsibilities at Sabadell, the private bank has hired former MAS Advisors and EFG Asset Management portfolio manager Francisco Soler, Sabadell’s head of discretionary, Alberto Arrambide, confirmed.

Prior to Sabadell, Tome ran his own group, Craeft Advisors. He also worked at Guggenheim Partners Latin America ,where he was their CIO from 2012 to 2014, as well as at Safra Asset Management’s Miami office from 2014 to 2015.

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