Merrill’s Fleming to depart for Yale

Merrill Lynch & Co. Inc. investment-banking head Greg Fleming will depart the firm for a teaching position at…

Merrill Lynch & Co. Inc. investment-banking head Greg Fleming will depart the firm for a teaching position at Yale University.
The Ivy League university appointed him a senior research scholar at Yale Law School in New Haven, Conn., and distinguished visiting fellow at the Yale Law School Center for the Study of Corporate Law. Mr. Fleming “will teach, write and conduct research related to the current global financial crisis,” Yale said in a statement.
He joined Merrill in 1992 as an investment banker and was promoted to executive vice president and co-president of the global-markets and investment-banking group in 2003.
In June 2007, Mr. Fleming was promoted to co-president by E. Stanley O’Neal, Merrill’s former chairman and chief executive, and remained at the firm after Mr. O’Neal’s ouster in October that year.
Mr. Fleming’s exit from Merrill marks the latest departure of a senior executive from the New York-based firm after it was acquired by Charlotte, N.C.-based Bank of America Corp. on Jan. 1.
On Monday, Merrill’s former chief executive, John Thain, announced in an internal memo the resignation of Robert J. McCann, vice chairman of Merrill Lynch Global Wealth Management. Mr. Thain is now president of BofA’s global banking, securities and wealth management division.
And they might not be the last people to leave the firm.
“I wouldn’t be surprised if we hear about a few more departures from Merrill in the next couple of days,” said Alois Pirker, senior analyst with Aite Group LLC of Boston.