Chris Selby has replaced Tom Alexy as head of Merrill Lynch’s global wealth management for Australia and New Zealand.

Alexy left Merrill Lynch in early 2009.

A statement from Merrill Lynch said Selby would seek to expand the wealth advisory business in line with market opportunities.

Selby has more than 23 years experience with Merrill Lynch, including 22 years in Australia, and has worked in debt capital markets, debt sales and trading, and investment banking. He previously worked in Merrill Lynch’s fixed income sector.

Merrill Lynch was bought by Bank of America in January this year.