Report: McCann and BofA attempt to settle suit, setting up ex-Merrill exec’s move to UBS
Robert McCann, the former head of the brokerage unit at Merrill Lynch & Co., is inching closer to joining UBS AG as the head of the firm's wealth management business in the Americas, according to Bloomberg.
Robert McCann, the former head of the brokerage unit at Merrill Lynch & Co., is inching closer to joining UBS AG as the head of the firm’s wealth management business in the Americas, according to Bloomberg.
Earlier this week, Mr. McCann filed a lawsuit against Bank of America Corp. — which acquired Merrill in January— in an attempt to get the Charlotte, N.C.-based banking company to release him from non-compete terms that were included in his employment agreement.
Mr. McCann left his post at Merrill in January, shortly after BofA officially completed it acquisition of the firm.
Bloomberg reported that Mr. McCann and BofA are now in negotiations to settle the suit, which would allow Mr. McCann to join UBS.
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