Huntington lures former BMO exec to lead brokerage business
The retail brokerage business of Huntington Bank has a new leader.
Michael Miroballi, a former BMO senior wealth management executive, joined the bank as president of Huntington Investment Co. He is charged with "driving a focused execution of the sales strategy and client delivery model," the bank said in an announcement on Tuesday.
Miroballi takes over the role from Douglas Singer who had been serving as interim president of the business since December 2015. Singer is helping with Miroballi's transition period and pursuing other opportunities, according to a Huntington spokesman.
Prior to joining Huntington, Miroballi served as president of BMO Harris Financial Advisors, where he oversaw the strategic direction, performance and delivery of the business, Huntington said. He had been with BMO for almost 16 years, serving in a variety of roles, including head of trust and investments.
Huntington praised Miroballi's leadership skills, saying his wealth management and regulatory compliance experience would serve Huntington well. "We have the unique opportunity to invest in and grow our customer base and Michael is an outstanding complement to Huntington's established investment team," Jim Brocklehurst, Huntington's consumer bank strategy director, said in a statement.
The appointment follows a management realignment that occurred in the wake of Huntington's acquisition of FirstMerit last August. As part of the reorganization, former FirstMerit executive Sandra Pierce was named leader of Huntington's Private Client Group, which in addition to Huntington Investment includes Huntington Wealth and Investment Management and Huntington Private Bank.
Huntington's retail brokerage business posted a decent performance in 2016. The business generated $62 million in revenue for the year, up 3% from 2015, according to the bank's latest earnings release.