Merriman Holdings Names Former Comerica Bank and Wells Fargo Executive, Dennis J. Mooradian, to its Independent Advisory Board

SAN FRANCISCO, Feb. 15, 2011 /PRNewswire/ -- Merriman Holdings, Inc. (Nasdaq: MERR), today announced that it has appointed Dennis J. Mooradian to its independent advisory board.  

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Mooradian was formerly executive vice president of Comerica Bank's Wealth and Institutional Management, chairman of World Asset Management, and chief executive officer of Munder Capital Management.  At Comerica, Mooradian oversaw $135 billion in client assets, where he integrated several different operating divisions.

Prior to Comerica, Mooradian was chairman and CEO of Wells Fargo Investments, where he oversaw the private client services division and financial consultant advisory groups, which included the private bank, personal trust company, brokerage firm and personal asset management. In this position he also led the acquisition of Ragen MacKenzie, HD Vest, and Nelson Capital Management, as well as the integration of the investment businesses of First Interstate, Norwest and First Security.

Mooradian held various leadership roles between 1988 and 1995 with Lehman Brothers, culminating with his position as managing director and chief operating officer of Global Private Client Services.

Mooradian began his career in the financial services industry at EF Hutton. He spent nine years as branch manager of the Detroit branch, which concentrated on high net worth retail and institutional fixed income and equity sales. When EF Hutton was acquired by Lehman in 1988, Mr. Mooradian became senior vice president and division sales manager for Lehman's private client group in the Great Lakes division and later national sales manager for all domestic branches.  

"I look forward to having Dennis on the advisory board," said Jon Merriman, co-chairman of Merriman Holdings, Inc. "With his nearly 40 years of experience, he brings to us senior management experience in sales and marketing as well as compliance and risk management. Applying Dennis' vast expertise in various aspects of financial service operations will help us continue to position the firm toward rapid growth."

About Merriman Holdings, Inc.

Merriman Holdings, Inc. (Nasdaq: MERR) is a financial services firm focused on fast-growing companies and the institutions that invest in them. The company offers high-quality investment banking, equity research, institutional services and corporate & venture services, and specializes in three growth industry sectors: CleanTech, Consumer, Media & Internet and Technology. For more information, please go to http://www.merrimanco.com/.

Note to Investors

This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 30, 2010. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2010 and the Form 10-Q filed on November 15, 2010, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com . Please click on "Investor Relations."

SOURCE Merriman Holdings, Inc.