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Merrill brokerage chief McCann to leave

NEW YORK
Mon Jan 5, 2009 11:51pm EST

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NEW YORK (Reuters) - Bob McCann, head of brokerage at Merrill Lynch & Co, announced his plans to leave the securities firm, just days after its acquisition by Bank of America (BAC.N) was completed.

On Monday, John Thain, the former Merrill chief executive who is now president of the Bank of America's global banking, securities and wealth management, announced McCann's plans to staff in a memo obtained by Reuters.

A Merrill Lynch spokeswoman confirmed the memo.

McCann, a 26-year veteran of Merrill who headed Merrill's global wealth management since 2003, told Thain "this is the right time for me to move on," according to the memo.

Bank of America's acquisition of Merrill closed on Jan 1.

(Reporting by Steve James, Elinor Comlay, and Phil Wahba; Editing by Andre Grenon; Editing by Anshuman Daga)


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