Bank of America Names Lisa Shalett Chief Investment Officer of Merrill Lynch Global Wealth Management

Bank of America today announced that Lisa Shalett will join the firm as chief investment officer of Merrill Lynch Global Wealth Management and head of Investment Management and Guidance. Based in New Jersey, Shalett will report to Kunal S. Kamlani, head of Global Investment Solutions.

"Lisa’s intellectual acumen and proven leadership skills make her ideally suited to lead our efforts in working with clients to help achieve their goals through objective investment advice and guidance,” said Kamlani. "Moreover, her experience with fundamental and quantitative research will complement our Investment Management and Guidance organization, which has become an invaluable differentiator for Merrill Lynch Financial Advisors and clients through its work on strategic asset allocation, portfolio construction, and best-in-class manager due diligence.”

Shalett will be responsible for Merrill Lynch Global Wealth Management investment strategy around the world. In addition, she will oversee Investment Management and Guidance’s investment analytics and investment guidance teams, as well as the Ultra High Net Worth Investment Office, which creates institutional-caliber investment policies, asset allocation and portfolio solutions for ultra high net worth clients.

Shalett will join Bank of America from AllianceBernstein, L.P., where she served as partner and head of Global Growth Equities. In this role, she led the investment services unit responsible for managing all growth-style equity mandates. She also provided strategic direction and business oversight for product platforms and portfolios across the firm’s institutional, retail and private client channels. She served as team lead on all U.S. research portfolios and the flagship Global Research Growth portfolio and was a member of the firm’s Executive Committee.

Prior to this, Shalett served as chair and chief executive officer of Sanford C. Bernstein, LLC, where she oversaw global research, sales and trading. There, she helped lead the company to its broadest showing in the firm’s history of top-ranked analysts, according to Greenwich and Institutional Investor surveys. Shalett previously held positions as global research director and equity analyst. Early in her career, she served as a management consultant at the Boston Consulting Group and Booz, Allen and Hamilton.

Shalett holds a bachelor’s degree in applied mathematics and economics, magna cum laude, from Brown University and an M.B.A. from Harvard Business School.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

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