Doll to Focus on Investment Performance
NEW YORK, June 14 /PRNewswire/ -- Merrill Lynch & Co. today said Robert C.
Doll Jr. accepted the position of Chief Investment Officer for Equities at
Merrill Lynch Asset Management (MLAM). Doll's appointment is the latest in a
series of key personnel changes designed to strengthen MLAM's business and
provide a platform for future asset growth.
Mr. Doll, 44, was most recently Chief Investment Officer for
OppenheimerFunds Inc., the New York-based money manager with $110 billion in
assets under management. While at OppenheimerFunds, he was responsible for
the performance of all investment products, both equity and fixed-income, and
also served on the firm's Executive Committee.
"We are thrilled to have an executive of Bob Doll's caliber joining
Merrill Lynch Asset Management at this pivotal time," said Jeffrey M. Peek,
Executive Vice President of Merrill Lynch and President of Merrill Lynch's
Asset Management Group. "All year, we have been working successfully at
turning around fund performance. Bob's arrival is yet another indication of
the seriousness of our commitment."
Terry Glenn, Executive Vice President of MLAM, also welcomed Mr. Doll,
saying, "Bob Doll is one of the most skilled investment professionals in the
mutual fund industry. He will not only further develop our equity department,
but will serve as an outstanding spokesman for the business. With his
arrival, we now have a management team in place to carry us through the next
decade."
"This is a business group that appears to be on the threshold of great
things," Mr. Doll said. "I look forward to working with the new management
team to achieve all that is possible at Merrill Lynch Asset Management."
Mr. Doll graduated from Lehigh University in 1976 with degrees in
accounting and economics, and received his Master's degree in Business
Administration from The Wharton School at the University of Pennsylvania in
1980.
In the last three months, MLAM has made a number of significant personnel
changes. Christopher Blunt was hired from Goldman, Sachs & Co. to be Head of
Marketing and Distribution for U.S. retail mutual funds; Greg Bundy, most
recently co-CEO of Merrill Lynch Australia, was named Chief Operating Officer
of MLAM; Brian Fullerton joined the firm earlier this month from Putnam
Investments Inc. to serve as MLAM's Director of Risk Management; and Sean
Kelley, who joined MLAM from Morgan Stanley & Co., in April, was appointed as
Chief Technology Officer.
MLAM, along with Merrill Lynch Mercury Asset Management and Hotchkis and
Wiley, are the operating units of Merrill Lynch's Asset Management Group, one
of the largest active asset managers in the world. It provides a
comprehensive range of mutual funds, as well as institutional asset management
and private-portfolio services to individuals, corporations, governments and
institutions worldwide.
As of March 31, 1999, MLAM had $281 billion in assets under management.
Overall, the Merrill Lynch Asset Management Group had nearly $515 billion
under management at the end of the first quarter.
SOURCE Merrill Lynch & Co.
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CONTACT:
Christine Walton of Merrill Lynch & Co.,
212-449-8548, or christine_walton@ml.com
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