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Merrill Lynch Loses New York Team to First Republic

By Alex Padalka January 24, 2017

Five longtime Merrill Lynch wealth managers have decamped to First Republic Private Wealth Management, according to a press release from First Republic.

Larry Rothenberg, Shaun Van Vliet, David Farber, Schuyler Perry and Timothy Deygoo were part of New York-based Consilium Associates at Merrill Lynch, First Republic says.

Rothenberg and Van Vliet, one of the founders of the team, had been with Merrill Lynch since 1996, while the rest of the team had joined the firm after 2001, according to the press release.

The team will offer retirement planning, portfolio management and other wealth management services to individuals, families, foundations and nonprofits out of New York, First Republic says.

For a short period from just before to just after the financial crisis of 2008, First Republic was owned by Merrill Lynch. The firm offers private banking and wealth management primarily from several offices in California as well Portland, Ore., Boston, Palm Beach, Fla., and New York and Greenwich, N.Y., according to the company’s press release.

(Getty)

Last year, First Republic jumped six spots to No. 21 on Barron’s annual list of the top 40 wealth management firms in the country, in part due to several large acquisitions, including the 2015 purchase of the $6.7 billion RIA Constellation Wealth Partners.