Thiel to step aside at Merrill Lynch Wealth Management

Andy Sieg, current head of Merrill's Global Wealth and Retirement Solutions division, will succeed John Thiel as head of Merrill Lynch Wealth Management, effective January 1, 2017. Thiel will still serve as vice chairman of ML Global Wealth and Investment Management.

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BofA Merrill: Weakening outlook for global economy amid China fears

“Investors are sending a clear message that they are positioned for lower growth in China and emerging markets,” said Michael Hartnett, chief investment strategist at BofA Merrill Lynch Global Research.

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