A former Merrill Lynch advisor has left the wirehouse to join Abbot Downing, a unit of Wells Fargo's Wealth, Brokerage and Retirement Group that caters to ultra-wealthy clients.
Eric Grodan, now Abbot Downing relationship manager based in Los Angeles, spent seven years at Merrill, where he most recently served as senior vice president of trust and estate, according to a statement announcing the move. Prior to Merrill Lynch, Grodan spent six years as director of gift planning for the California Community Foundation, where he planned gift programs that doubled in assets during his time there.
Abbot Downing has $37.9 billion in client assets. Wells Fargo launched the brand in 2012. The firm provides its ultrahigh-net-worth clients planning services, asset management, private banking, trust, fiduciary and administrative services.
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