October 6, 2016 / 4:26 PM / 9 months ago

BofA Merrill Lynch's Thiel to step down as wealth management head

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Oct 6 (Reuters) - Bank of America said on Thursday John Thiel, head of Merrill Lynch Wealth Management, has decided to step down.

Thiel will become vice chairman of Global Wealth and Investment Management, effective Jan. 1.

Andy Sieg, head of BofA's global wealth and retirement solutions division, will replace Thiel. (Reporting by Diptendu Lahiri in Bengaluru)

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