Article published November 21, 2009
Brokerage firms shuffle Toledo offices, consolidate
A Merrill Lynch logo is shown on the outside of an office building in downtown Toledo.
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THE BLADE
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By LARRY P. VELLEQUETTE
BLADE BUSINESS WRITER
The people may stay the same, but the names and places where Toledoans can speak to their stockbroker are undergoing a realignment, resulting from the financial turmoil on Wall Street a year ago.
Merrill Lynch Global Wealth Management, which has maintained a presence in downtown Toledo for more than five decades, will leave the city's central business district in March to move into a new building at Monroe Street and Whiteford Road in Sylvania Township.
Three other area stockbrokers also will undergo changes.
Merrill was acquired by Bank of America at the height of the financial meltdown last year, and has more than 50 financial advisers servicing clients in metro Toledo, spokesman Selena Morris said.
The downtown Toledo office in the HCR ManorCare building, 333 North Summit St., will be consolidated with a Merrill branch in Sylvania Township into the new 10,500-square-foot building.
The brokerage firm also has offices in Perrysburg, Findlay, the city of Sylvania, and Sandusky.Merrill's move will leave a few other businesses downtown where stocks can be bought and sold.
Fifth Third Securities Inc. will continue to trade securities for customers from its office in One SeaGate, spokesman Karen Fraker said.
Early this year, the Wachovia Securities LLC office in One SeaGate became Wells Fargo Advisors LLC after Wells Fargo acquired the former Wachovia Bank last year. A similar situation is playing out in Sylvania Township, where the two offices of what are now one company are only about a half-mile apart.
Also this year, Morgan Stanley, which had an office at 7311 Crossleigh Ct., merged with Smith Barney, with an office at 7124 West Central Ave. The firm is now called Morgan Stanley Smith Barney.
Contact Larry P. Vellequette at:
lvellequette@theblade.com
or 419-724-6091.
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