20-Year Veteran of Firm, Zeikel Oversaw Growth
of One of the World's Largest Fund Managers
NEW YORK, March 3 /PRNewswire/ -- Merrill Lynch & Co., Inc., today said
Arthur Zeikel, Chairman of Merrill Lynch Asset Management (MLAM) and a member
of the firm's Executive Management Committee, will retire from the firm after
more than 20 years of service.
Mr. Zeikel, 66, is one of the country's most respected leaders in asset
management and presided over the growth of Merrill Lynch's asset management
business. Since joining Merrill Lynch in 1976, client assets under management
have grown from $300 million to more than $500 billion.
"Arthur Zeikel was not only instrumental in creating Merrill Lynch's
asset-management business, he was key in introducing the very concept of
mutual funds to a broad cross-section of investors," said Chairman and Chief
Executive Officer David H. Komansky and President and Chief Operating Officer
Herbert M. Allison, Jr. "As a result of his vision and dedication, Merrill
Lynch is now one of the largest and most respected names in asset management,
serving millions of clients worldwide. For Arthur, this has been a labor of
love, and our employees, clients and shareholders have been the beneficiaries.
Through his wisdom, expertise and commitment to delivering genuine value to
our clients, he has made a lasting contribution to Merrill Lynch."
Today, Merrill Lynch's Asset Management Group is the third-largest active
asset-management firm in the world. It also provides a comprehensive range of
mutual funds, as well as institutional asset management and private-portfolio
services to individuals, corporations, governments and institutions worldwide.
Its operating units include Merrill Lynch Asset Management, Merrill Lynch
Mercury Asset Management and Hotchkis and Wiley.
"Cultivating Merrill Lynch's asset-management business has been much more
than a professional endeavor," said Mr. Zeikel. "The road has been a long and
fulfilling one, and I have taken great pride in each step along the way. I
retire from the firm with the knowledge that our clients are in the hands of
an outstanding family of investment professionals, people who embody Merrill
Lynch's high standards of integrity and client commitment."
Mr. Zeikel, as President of Merrill Lynch Asset Management from 1977 to
1997, was responsible for the business unit's planning, investment philosophy
and operating performance. During that time, he supervised the business
group's decision-making procedures for more than 200 mutual funds active in
virtually every capital market in the world.
As Chairman of MLAM since December 1997, he has been responsible for
strategic and client-relationship matters, and was also a senior adviser to
the Chairman and President of Merrill Lynch. From 1988 to 1990, he also
served as the firm's Director of Corporate Strategy.
Prior to joining Merrill Lynch, Mr. Zeikel was the President of Centennial
Management, an investment-management affiliate of Oppenheimer & Co., from 1974
to 1976. He also served as Chief Executive Officer and Senior Portfolio
Manager for institutional accounts there.
From 1968 to 1974, Mr. Zeikel served as Chairman of the Board and a
founding principal of Standard & Poor's/ InterCapital Inc., a diversified
investment-management concern representing a joint effort between several
investment managers and Standard & Poor's, a subsidiary of McGraw-Hill.
Mr. Zeikel is Co-Chairman of the Board of Trustees of the Financial
Analysts Federation Investment Management Workshop, and a member of the
Editorial Board of the Financial Analysts Journal, the Economic Club of New
York and the Council on Foreign Relations. He is also a trustee of
Commonfund, the non-profit corporation devoted to enhancing the resources of
financial institutions through fund management, as well as a corporate member
of the Woods Hole Oceanographic Institution Corp.
Mr. Zeikel is also an author, having co-written Investment Analysis and
Portfolio Management, a leading investment text, and the Guide to Intelligent
Investing. He has also written several significant pieces for the Journal of
Portfolio Management and the Financial Analysts Journal, and has twice been
awarded the Graham & Dodd scroll for articles in the latter publication.
Mr. Zeikel was born in New York City. He graduated from College of the
City of New York in 1954 with a Bachelor's Degree in Business Administration.
In 1957, he received Master's Degree in Business Administration from New York
University's Graduate School of Business. He resides in Westfield, N.J., and
is the father of three and grandfather of four.
SOURCE Merrill Lynch & Co., Inc.
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CONTACT:
Christine Walton of Merrill Lynch,
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