Bank of America Merrill Lynch has named Morgan Stanley Smith Barney executive Michael Maghini to serve as head of insurance and annuities as the firm looks to capture more of the baby boomer market.

Maghini is scheduled to join the firm in its One Bryant Park location in midtown Manhattan on Oct. 1. His title will be managing director and head of insurance and annuities. Maghini will report to David Tyrie, head of Personal Wealth and Retirement at Bank of America Merrill Lynch, who calls the insurance and annuities head role a very important leadership position at the firm.

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