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Monday, May 08, 2006|
Merrill Fills Post of Demoted MD
Merrill Lynch has moved Manhattan branch manager Thomas Fickinger to New Jersey, where he will replace Andy Williams as regional managing director. Williams was demoted last month as part of the fallout from the Millennium Partners marketing timing scandal.
According to MarketWatch, a Merrill spokesperson confirmed the appointment of Fickinger, who most recently served at the company's Fifth Avenue office, and previously was branch manager of the Florham Park, New Jersey office where he will now be based. Fickinger's replacement in the Manhattan branch is not yet known.
Williams has not been forced to leave Merrill Lynch, but it is not known whether he will remain with the company. It has been alleged that he expressed support for letting three brokers, since dismissed from Merrill, continue assisting hedge fund company Millennium in carrying out questionable trading of mutual fund shares after Merrill's compliance department raised objections to the practice.
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