Bank of America’s Merrill Lynch Wealth Management has hired Goldman Sachs’ financial advisor Kendall Cotten for its private banking and investment group’s office in Dallas.

At Goldman Sachs, Cotten managed US$325 million in client assets and had about $1.86 million in annual revenue production, according to Reuters.

In his new role, Cotten will be reporting to Robert Johnson.

In order to invest with Merrill Lynch Private Banking and Investment Group, a client should have a minimum net worth of US$10 million.