Merrill Reshuffles Retirement Group

After a few months in his new position, Stephen Bodurtha, senior vice president and head of the Retirement Group, has announced new positions and noted a strategy for retaining clients and meeting industry changes (see Falcon Leaving Retirement Group at Merrill Lynch). He announced the following changes in an internal memo:

Kevin Crain, managing director, will lead the Institutional Client Relationship Team, responsible for small to large plans, alongside Bodurtha. “Our goal is to grow the firm’s market share by attracting new institutional plan sponsor clients, and by delivering even more services to existing clients,” the memo said.

Aimee DeCamillo, managing director, will head the Individual Participant and Investor Solutions. The memo said the firm is striving to provide participants with more opportunities to become the next generation of wealth management clients.

John Furlong, managing director, will lead Institutional Benefit Plan Solutions, including the firm’s defined contribution, defined benefit, equity, and deferred compensation services, as well as plans administered by third-party firms.

Barry Lindenbaum, managing director, COO of the Retirement Group, will lead the operations, services, and technology effort.

Director Kabir Sethi will head Strategic Business Initiatives, which will help keep the firm up to pace with industry change, according to the memo. The group will have impact on a wide range of activities, including third-party and vendor relationships.

The memo notes a few unchanged positions: George Rinehart, first vice president, will continue to head the group’s Human Resources, Lou Almerini, first vice president, will head Finance, and Mike Sjogren, managing director, will continue to work with us from Merrill’s Office of General Counsel (OGC).

Merrill Lynch confirmed the announcements but offered no further comment.