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Merrill's Orcel Given BofA Post
Andrea Orcel, Merrill Lynch's head of global origination and president of global markets and investment banking for Europe, the Middle East and Africa, will stay on after Bank of America acquires the firm.
November 12, 2008
Andrea Orcel, Merrill Lynch's head of global origination and president of global markets and investment banking for Europe, the Middle East and Africa, will stay on after Bank of America acquires the firm.
Orcel will become president of international banking, securities and wealth management at the combined company, a source familiar with the situation said. He will continue to be based in London.
Orcel joined Merrill in 1992, following stints at Goldman Sachs and the Boston Consulting Group. He became president of EMEA global markets and investment banking in 2004 and head of global origination in May 2007. He led Merrill's global financial institutions group from 2001 until 2007.
Orcel has advised on deals such as the acquisition of ABN AMRO by Royal Bank of Scotland, Fortis and Santander, and Santander's purchase of Abbey National.
Besides Orcel, Merrill executives John Thain, Greg Fleming, Tom Montag and Bob McCann also accepted positions at BofA.
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