June 12, 2019 / 12:46 PM / 12 days ago

Merrill Lynch on track to add 47,000 households in 2019

June 12 (Reuters) - Bank of America Corp's wealth management unit could grow net households by 47,000 in 2019, according to a top executive.

Speaking at an investor conference on Wednesday, president of Merrill Lynch Wealth Management Andy Sieg said the bank is on track to grow new households by 6.5% from 2017 levels based on an annualized analysis of first quarter results.

The unit which manages $2.4 trillion in assets has been focused on growing assets and clients organically through referrals. (Reporting by Imani Moise)

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