A former Federal Reserve Bank of New York and Morgan Stanley employee has joined Merrill Lynch's wealth arm.

Merrill Lynch Wealth Management has appointed Karin Kimbrough as head of investment strategy within its global wealth and investment management chief investment office.

Kimbrough previously served as a director at the Federal Reserve Bank of New York’s markets group, where she founded and led the financial stability function. During her time at the Federal Reserve, she also managed the foreign exchange trading staff and the quantitative analytics team, and wrote reports on trends in asset valuation, financial innovation, leverage and financial conditions. 

Kimbrough has also worked for Morgan Stanley and the World Bank.

In her new role, she will report to Chris Hyzy, CIO of the global wealth and investment management office, and will be responsible for leading the CIO investment and portfolio strategy work across MLWM, as well as developing thought leadership around investment trends and the application of macro strategy in portfolios. She will be a voting member on the bank’s investment strategy committee.

Kimbrough is replacing Chris Wolfe, who has now left the organization, the Bank of America confirmed to this publication.

“Her significant experience in global monetary policy management will enable us to advance our thought leadership advice in this area,” said Hyzy.