Merrill exec tapped for key spot
Merrill Lynch and Bank of America have named Andrea Orcel as the president of international operations for the global banking, securities and wealth management business for the soon-to-be-combined company.
Merrill Lynch & Co. Inc. and Bank of America Corp. have named Andrea Orcel as the president of international operations for the global banking, securities and wealth management business for the soon-to-be-combined company, according to an internal memo distributed today.
He is currently the head of global origination and president of Europe, Middle East and Africa global markets and investment banking at Merrill.
Mr. Orcel will report to Greg Fleming, who will assume the role of head of global corporate and investment banking for the combined company after serving as president and chief operating officer of Merrill Lynch.
His appointment comes a month after the appointment of Merrill Lynch chairman and chief executive John Thain as president of BofA’s global banking, securities and wealth management division.
In September, Charlotte, N.C.-based Bank of America agreed to acquire New York-based Merrill in a $50 billion all-stock transaction.
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