As Bank of America Merrill Lynch continues to streamline its business, it has created a new global wealth and retirement solutions organization, said Andrew Sieg, who heads the new unit, in an internal memo to employees on Friday.

The new organization is a combination of Bank of America Merrill Lynch’s previous global investment solutions and retirement services teams. The new organization aims to provide clients and financial advisors with improved access to products and services, Sieg said in the memo.

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