Thursday, 24th July 2008

 

9 May 2008 - Press Briefing

Merrill to expand wealth unit in Taiwan

Merrill Lynch said it would expand its onshore private wealth unit in Taiwan after receiving regulatory approval to operate in the country, according to a Dow Jones report.

"We believe Taiwan offers significant opportunities for the (Global Private Client) group and our other businesses," Merrill Lynch's Taiwan chief executive Albert Lee said in a statement.

Eric Liu, resident manager for Merrill Lynch's onshore private banking business, told Dow Jones Newswires that Merrill Lynch has hired 25 employees for its private banking unit in Taiwan so far this year, and is on track to hire a total of 60 in 2008.

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