Merrill Lynch Global Wealth Management chief Daniel Sontag is keen to add to the unit's Asian team, particularly in Singapore, according to an eFinancialCareers interview.

Mr Sontag is quoted as saying that the company, currently integrating with Banc of America, is finalising a three-to-five-year plan to grow its wealth management business in the region. He did not specify any target recruitment figures.

"I'm always looking for talented people in the marketplace. We've got a long history in Asia…and we want to capture more fully the opportunities," Mr Sontag is quoted as saying.

"There's always going to be niche players in the marketplace, who're going to find places to serve clients, but I'm of the belief that more and more clients are looking for a single place to serve all their needs," he said.

Merill Lynch already employs some 1,700 people in Asia, 450 of them in Singapore, including 150 front-office financial advisors. Mr Sontag is also quoted as saying that the Banc of America takeover has given way to "bigger economies of scale" which allow for more aggressive hiring plans.   

Last week, Banc of America Securities-Merrill Lynch Research announced a number of top economics appointments, including Ethan Harris, who took up the post of head of North America economics, replacing David Rosenberg.