Wells Fargo Advisors is in advanced talks to hire Tom Isaacs, a 25-year veteran Merrill Lynch adviser and manager, to oversee its branches in New York City, according to a source familiar with the talks.

In his new role, Isaacs would be the New York market area manager for Wells Fargo Advisors, a division of Wells Fargo & Co . This position has been vacant since December when Rick Frick, the firm's former New York manager, left the firm.

Merrill Lynch confirmed Isaacs' departure and said a replacement will be named shortly. Wells Fargo declined to comment. Isaacs could not be reached for comment.

Isaacs resigned on Friday and is waiting to see whether Merrill Lynch will enforce a clause in its employment contract requiring branch managers to take a 60 day garden leave when they leave the firm, according to the source.

Isaacs had been with Merrill Lynch, a division of Bank of America , since 1985, according to FINRA filings, and was most recently the branch manager of the firm's Jacksonville, Florida office.

(Reporting by Helen Kearney; Editing by Gary Hill)

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