Merrill Lynch is adding more resources to help its advisors serve ultrahigh-net-worth clients, a lucrative demographic for the Bank of America wealth unit.

Liu, who will leave at the end of the month, has led the part of Citigroup that caters to its highest-wealth clients for almost four years and has had an 18-year career with the New York-based bank.

Bank of America is bolstering its wealth management team, including tapping Ed Riley as the capital markets head of its Investment Solutions Group. Riley rejoins BofA after six years at Citi Wealth.