• Most Popular
  • Most Shared

Merrill brokerage chief McCann to leave

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

Stocks

   

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)


More from Reuters

Photo

Obama says U.S. will pursue plane attackers

KAILUA, Hawaii (Reuters) - A wing of al Qaeda claimed responsibility on Monday for a failed Christmas Day attack on a U.S.-bound passenger plane and President Barack Obama vowed to bring "every element" of U.S. power against those who threaten Americans' safety. | Video

» More Top News
Passengers pass security notices as they approach the departure gates at Gatwick Airport, in southern England December 28, 2009. REUTERS/Luke MacGregor

Travelers met with hassles

The U.S. is stepping up airline security measures following the Christmas bomb scare. Here's what you can expect.  Full Article | Video 

U.S.
Iranian protesters take a policeman away to a safe place after he was beaten by angry protesters during fierce clashes in central Tehran December 27, 2009. Credit: REUTERS/Stringer

Deaths, arrests in Iran

Is Iran's "iron fist of brutality" a new volatile phase aimed at crushing the refomist movement?  Full Article | Video 

World