O?Neal Named Prez, COO at Merrill Lynch

July 24, 2001 (PLANSPONSOR.com) - Merrill Lynch, which has not had a president and COO since July 1999, has finally made an appointment.

E. Stanley O?Neal, 49, will fill the role, working closely with Chief Executive David Komansky to direct the group?s worldwide operations, and is a likely successor to the top job once Komansky retires in 2004 at age 65.

O’Neal is the highest ranking black executive at a Wall Street securities firm.

O?Neal, who joined Merrill in 1986, has held a number of positions at the firm. He was CFO from March 1998, before taking over as head of the private client or brokerage group. He has also run its high-yield business and capital markets group.

O?Neal has steered Merrill?s 15,000-strong US broker force since February 2000 and will remain in the role until a replacement can be found.

The president and chief operating officer job had been vacant since 1999, when Herbert M. Allison retired.