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Merrill's Sontag Named Head of Retail Brokerage

Topics:Economy (U.S.) | Economy (Global) | Banking

Sectors:Financial Services | Banks

Companies:Merrill Lynch & Co Inc | Bank of America Corp

By: Reuters | 06 Jan 2009 | 04:15 PM ET

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Bank of America named Dan Sontag head of Merrill Lynch Global Wealth Management, its retail brokerage unit, according to an internal memo obtained by Reuters, filling a spot vacated by the recent departure of Bob McCann.

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Sontag was previously head of wealth management for the Americas and is a 30-year veteran of Merrill Lynch, which Bank of America bought on Jan. 1.

A Merrill Lynch [MER Loading... () ] spokeswoman confirmed the memo.

Ken Lewis, Bank of America's [BAC Loading... () ] chief executive, described Merrill's financial advisers as the crown jewel of the acquisition in September, when the deal was first announced.

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