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Rating:Merrill's Thatch Switches Sides Not Rated 4.0 Email Routing List Email & Route  Print Print
Monday, March 16, 2015

Merrill's Thatch Switches Sides

News summary by MFWire's editors

Peter Thatch just left Bank of America Merrill Lynch and joined a mutual fund titan.

Jed Horowitz of Reuters reports that Thatch, Merrill wealth management's managing director of third-party distribution for six years, recently joined Los Angeles-based Capital Group's American Funds [profile], not American Century, as senior vice president for retail product management strategy. A Capital Group spokesman confirms to MFWire that, despite an initial report to the contrary it was American Funds Thatch joined.

MFWire could not immediately reach spokespeople for BofA Merrill or American Century for comment for this story.

The wirehouse describes Thatch as "the chief liaison between Merrill Lynch Wealth Management and mutual fund companies and money managers who want access to its vast client network" served by Merrill's 14,000-advisor thundering herd. He spent nearly two decades at the wirehouse, and Reuters says he went on gardening leave from Merrill in September.

The wire service reports that Brian Rosevear will serve as Thatch's successor at Merrill and will report to Sandy Bolton. MFWire broke the news last week that Bolton is rejoining Merrill (after 18 years at other firms) in the new role of investment solutions, reporting to managed solutions chief Lorna Sabbia. Reuters notes that Sabbia is "a key architect of Merrill One," the freshly-consolidated Merrill money management platform. 

Edited by: Neil Anderson, Managing Editor

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