UPDATE 2-Merrill Lynch brokerage adding clients

* Brokerage unit head says adding clients

* Brokerage is hiring, training new advisers

(Adds comments from Sontag, background on Merrill Lynch acquisition, byline)

By Elinor Comlay

NEW YORK, June 24 (Reuters) - Merrill Lynch's global wealth management unit, which lost advisers in the first quarter, has been adding clients for at least the last five weeks and it is also starting to hire and train new advisers, the head of the business said on Wednesday.

Many wealthy individuals changed advisers last year as the financial crisis spiraled into a global recession, and clients and advisers left Merrill Lynch & Co after Bank of America Corp (BAC.N: Quote, Profile, Research) acquired the brokerage and investment bank on Jan. 1.

"The movement has settled down substantially," said Daniel Sontag, president of the retail brokerage, speaking at an event promoting the 13th annual World Wealth report published by the brokerage and consultant Capgemini.

Financial markets have begun to stabilize and clients are slowly starting to take more risk with their investments, Sontag said.

The brokerage is also starting to hire and train new advisers and expects to increase their number by about two to three percent, Sontag added, speaking on the sidelines of the event.