Bank of America Merrill Lynch (BofA) has appointed Mary Ann Bartels as CIO of portfolio strategies for the unit.

Bartels was previously working as the head of technical and market analysis for BofA Global Research. She has worked with the lender for 17 years.

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In her new role, Bartels will head the "portfolios strategy desk, ETF strategies, and the marketing and communications around IMG’s content platform, product launches and publications".

Andy Sieg, head of Global Wealth and Retirement Solutions, said: "Mary Ann is one of the most talented strategists in the industry and her joining the [Investment Management and Guidance] team will add tremendous value to our clients and advisors."

Bartels will replace Rick Galiardo, who left the firm several weeks ago after the departure of his boss, Lisa Shalett, who was chief investment officer for all of BofA’s wealth management brokerage force. Shalett has not yet been replaced.

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