Merrill Lynch's Richard Fuscone Retires to Pursue Personal, Charitable Interests.
NEW YORK--(BUSINESS WIRE)--Aug. 25, 2000
Merrill Lynch (NYSE:MER) today said that Richard M. Fuscone, Chief Operating Officer for the firm's Corporate and Institutional Client Group and Executive Chairman for Latin America and Canada, has decided to retire so that he can more fully pursue a wide range of personal and family interests. He will continue as a Senior Advisor to the firm.
"In his 21 years of dedicated service to Merrill Lynch, Rick has built an outstanding reputation for his business savvy, leadership skills, sound judgment and personal integrity," said Merrill Lynch Chairman and CEO David H. Komansky and Thomas W. Davis, President of the Corporate and Institutional Client Group. "We are grateful for his many contributions to our firm and wish him the very best in his future endeavors."
Mr. Fuscone, 49, joined Merrill Lynch in 1979 and was instrumental in building the firm's now dominant Money Markets and Global Fixed Income businesses. From 1993 to 1995, he was co-head of Global Fixed Income, and from 1995 to 1997, he served as head of Global Debt Markets.
In 1997, Mr. Fuscone assumed the role of Regional Chairman for Latin America and Canada, with responsibility for the firm's operations in Latin America as well as its institutional activities in Canada. He also has served as the Chief Operating Officer of CICG since 1999.
"I've enjoyed a very challenging and exciting career at Merrill Lynch and believe the firm is well-positioned to extend its leadership in the institutional marketplace," said Mr. Fuscone. "While I will miss my many colleagues and friends, I feel that now is the right time to devote more of my energies to a variety of outside interests and to my family."
Mr. Fuscone and his wife, Marjorie, actively support a number of educational and charitable organizations, including the Cystic Fibrosis and Juvenile Diabetes Foundations and Dartmouth College.
The move is effective September 1, 2000. A successor to Mr. Fuscone will be named in the near future. Merrill Lynch is one of the world's leading financial management and advisory companies with offices in 44 countries and total client assets of approximately $1.8 trillion. The firm is the top global underwriter and market maker of debt and equity securities. In 1999, Merrill Lynch advised on more than $1 trillion in mergers and acquisitions globally. For more information about the company, please see www.ml.com.