Business Week: They're Off! Merrill's CEO Horse Race; Chief Exec Komansky Is Signaling That Stanley O'Neal Is No Longer a Shoo-in.Business Editors NEW YORK--(BUSINESS WIRE)--May 24, 2001 It sounded like a sure thing. When Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co. Chairman and Chief Executive David H. Komansky promoted then-Chief Financial Officer E. Stanley Stanley, town (1991 pop. 1,557), capital of the Falkland Islands, S Atlantic Ocean, on East Falkland island. It is the main port and trading center of the islands. The name is sometimes written as Port Stanley. O'Neal in February, 2000, to succeed John Launny Steffens as president of the company's army of 15,000 brokers in the U.S., the popular perception was that unless something went horribly wrong, O'Neal would be named next in line to run America's No. 1 retail brokerage. Now, however, O'Neal's ascension Ascension, in Christianity Ascension, name usually given to the departure of Jesus from earth as related in the Gospels according to Mark (16) and Luke (24) and in Acts 1.1–11. to the throne throne, chair of state or the seat of a high dignitary. The throne was at first a stool or bench and later became an ornate armchair, usually raised on a dais and surmounted by a canopy. is in serious doubt. Both inside and outside the company, there is a growing perception that O'Neal, 49, faces serious rivals. Jeffrey M. Peek, 54, head of asset management, is said to be coming on strong after resurrecting the firm's asset management division. |
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