Big-name wealth team quietly leaves Merrill

Merrill Lynch has announced that Carl Choy, Lynne Kinney and Ronald Wo of The Chong Kinney Wo Group were no longer with the company. The wealth management team, who left Morgan Stanley on October 10, 2008 for Merrill Lynch, has managed 1,200 clients with assets of more than $900 million. Details of lawsuit filed by Morgan Stanley against the group are also discussed.