News & Observer | newsobserver.com | Merrill Lynch CEO's new role announced

Published: Oct 03, 2008 12:30 AM
Modified: Oct 03, 2008 02:45 AM

Merrill Lynch CEO's new role announced

Thain, 53, became Merrill Lynch CEO in November.
 

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NEW YORK - Bank of America said Thursday that Merrill Lynch's Chief Executive John Thain will take a new position once the bank completes its acquisition of the investment firm.

The new division Thain will oversee includes many of the operations that will be merged from Merrill, including the brokerage and mutual fund operations as well as Bank of America's investment banking and management operations already in place. Thain will serve as president of global banking, securities and wealth management for Bank of America. Thain, 53, became CEO of Merrill Lynch last November.

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