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ROBERT J. FARRELL TO ASSUME SENIOR ADVISOR ROLE; MERRILL LYNCH NAMES RICHARD T. MCCABE CHIEF MARKET ANALYST

 NEW YORK, Dec. 18 /PRNewswire/ -- Merrill Lynch & Co., Inc. today announced that Robert J. Farrell, senior vice president and chief market analyst, has elected to assume a new role as senior investment advisory. Richard T. McCabe, a long-time associate of Mr. Farrell, will succeed him as chief market analyst on Jan. 1.
 Mr. Farrell, 60, a 35-year veteran of Merrill Lynch, has spent his entire business career as a member of the firm's research team. In his new role, he will publish periodic theme pieces on market sector investing; serve as advisor to Merrill Lynch's institutional and investment banking clients in the U.S. and abroad; speak at the client seminars and serve as an advisor to executive management.
 Mr. McCabe, 53, also is a career Merrill Lynch employee, and has worked with Mr. Farrell for nearly 30 years. He has served as manager of market analysis since 1982 and was named a first vice president in 1988.
 "Bob Farrell is a Wall Street legend, and has a well-deserved reputation as the dean of stock market research," said William A. Schreyer, chairman of the board. "We are delighted that we will continue to have the benefit of his advice at the corporate level, and that his long-time associate, Dick McCabe, will assume the role of chief market analyst."
 "We are enormously pleased that Bob Farrell will continue to be a critical member of the Merrill Lynch research team as he reduces his daily activities somewhat and focuses on his new advisory duties," said Daniel P. Tully, president and chief executive officer. "And we are fortunate to have Dick McCabe, with his own proven track record of excellence, to carry on with the work that he and Bob have done as a team for many years."
 Mr. Farrell joined Merrill Lynch in 1957 as an analyst trainee and has worked as a market technician since 1959. He has been named to the number one position in the market timing category of Institutional Investor magazine's "All-America Research Team" for 16 of the past 17 years. Mr. Farrell earned a B.B.A. from Manhattan College and an M.S. from Columbia University. He and his wife Patricia have three children and live in Tenafly, N.J. Mr. Farrell serves on the board of the Winthrop H. Smith Memorial Foundation, a charitable organization that serves Merrill Lynch employees and their families, and advises the Merrill Lynch Retirement Program and 401(k) Savings & Investment Plan. He is a trustee of Manhattan College and the New York Foundling Home.
 Mr. McCabe joined Merrill Lynch in 1962 as an analyst trainee, and he and Mr. Farrell have worked as a team since 1964. Mr. McCabe has been co-author of Merrill Lynch's weekly Market Analysis Comment, and has been a widely quoted spokesperson for the firm on market trends and strategies. He did his undergraduate studies at Manhattan College and graduate work at New York University's Graduate School of Business Administration. He and his wife, Teresa, have five children and live in Chatham, N.J. He is a member of the New York Society of Securities Analysts and the Market Technicians Association.
 -0- 12/18/92
 /CONTACT: Monica Prihoda, or Fred Yager, 212-449-7355, or 212-449-7293, both of Merrill Lynch & Co./
 (MER)


CO: Merrill Lynch & Co., Inc. ST: New York IN: FIN SU: PER

LR-PS -- NY028 -- 8160 12/18/92 11:21 EST
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Date:Dec 18, 1992
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