A 30-year Merrill Lynch veteran joined BNY Mellon Wealth Management as regional president in San Francisco, according to BNY Mellon.
Thomas Fickinger will lead the region’s wealth management business, including client experience, recruiting strategy, and wealth director development. He will report to Robert Kricena, president of U.S. markets – Northwest.
The move came after Merrill Lynch’s leadership shake-up in March under new wealth management chief Andy Sieg, who cut the number of U.S. divisions to six from 10 in an effort to create a more integrated and efficient firm. Fickinger, running the wealth management business in Pacific Northwest, was one of the four executives who gave up regional posts, Bloomberg News reported, citing a staff memo.
In 2016, Fickinger managed more than 1,350 financial and private banking advisors, generating over $1.5 billion in revenue. He started his career at Merrill Lynch in 1986, according to FINRA BrokerCheck records, and served leadership roles both on the east and west coast.
A Merrill Lynch spokeswoman wasn’t immediately available to comment on Fickinger’s departure.
"Tom will be a great asset to our team, allowing us to continue to invest and thrive in this important growth market for the company, while working closely with entrepreneurs and corporate executives who seek our services,” Kricena said in a BNY Mellon statement.
BNY Mellon’s wealth management arm oversees nearly $216 billion in total private client assets as of June 30, 2017, according to the company. The firm launched a growth initiative in 2014 and has added new offices throughout the U.S. and abroad, including venturing into northern Virginia for the first time earlier this year.