Merrill Lynch leader in Charlotte heading to new venture

Scott Hotham, a Charlotte-based managing director at Merrill Lynch, is leaving the bank to help build the new wealth management business at Cantor Fitzgerald.

The New York investment firm announced Thursday that Hotham will join as executive vice president and head of institutional client solutions and strategy. Before that, he was a managing director for the South Atlantic region, and the Carolinas before that.

In his new role at Cantor Fitzgerald Wealth Partners, Hotham will work out of Charlotte and New York.

"Cantor Fitzgerald Wealth Partners is the future of the wealth management business, and I'm incredibly excited to play an integral part in its growth," he said in a statement.