Hawaiian team with $900M leaves Merrill Lynch

A prominent broker team in Honolulu, led by Carl Choy, has left Merrill Lynch & Co. Inc.
Merrill spokesman Bill Halldin confirmed that Mr. Choy and his partners Lynne Kinney and Ronald Wo departed this month. He declined further comment.
The team’s whereabouts could not be immediately determined.
Records at the Financial Industry Regulatory Authority Inc. indicate that the brokers are still registered with Merrill.
The Choy team departed Merrill less than a year after leaving Morgan Stanley. When it made the switch last October, the team had about $900 million in assets under management, according to a lawsuit Morgan Stanley filed against the brokers.
That dispute is now pending an arbitration hearing.
Mr. Choy, whose group focuses on fee-based investment management consulting, has been a frequent speaker at meetings of the Investment Management Consultants Association.
News of the group’s departure was reported by Pacific Business News.

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