NEW YORK, July 6 /PRNewswire/ -- Merrill Lynch & Co., Inc. today announced
the appointment of James P. Gorman as an Executive Vice President and Chief
Marketing Officer, a new position. Effective July 19, Mr. Gorman will assume
responsibility for overseeing Merrill Lynch's marketing strategies and
initiatives worldwide. He will also serve as a member of the company's
Executive Management Committee.
Mr. Gorman, 40, joins Merrill Lynch from McKinsey & Company in New York,
where he has been a Senior Partner since 1997 and a member of the firm's
Financial Institutions Practice for 12 years. He has had extensive
involvement with Merrill Lynch for the past 10 years, advising on such areas
as Private Client marketing (both U.S. and international), corporate strategy,
insurance, technology and asset management. In addition, he was a member of
the team that developed the recently announced U.S. Private Client
initiatives, which include a new, comprehensive fee-based account relationship
and an integrated Internet strategy.
"We are delighted that James is joining us in this new position. His
broad experience in financial services and his detailed knowledge of Merrill
Lynch will help us accelerate the development of new marketing strategies
firmwide to meet client needs in the rapidly changing global marketplace,"
said David H. Komansky, Chairman and Chief Executive Officer, and Herbert M.
Allison Jr., President and Chief Operating Officer.
In his new role, Mr. Gorman will work closely with the leaders of all of
Merrill Lynch's business groups to:
-- Build world class marketing organizations and expand the company's
position as the premier global brand in financial services.
-- Develop innovative marketing initiatives such as pricing, local market
presence, client segmentation, data management and client
communications.
-- Establish marketing alliances globally with other distributors and
providers of financial services.
-- Develop distinctive marketing campaigns to support the launch of new
Internet channels serving individual and institutional clients.
-- Support the company's 18,000 sales professionals around the world in
reaching and serving their target clients.
During his 12-year career at McKinsey, Mr. Gorman served as co-head of the
Personal Financial Services Practice for North America (1992-1996), chairman
of the New York Personnel Operating Committee (since 1996) and as a member of
the Partner Election Committee (since 1997). He was elected partner in 1992
and senior partner in 1997.
A native of Australia, Mr. Gorman earned a law degree at the University of
Melbourne and an M.B.A. from Columbia University in New York. Among his
outside interests, he serves as Chairman of the Board of Directors of
Graham-Windham, a non-profit children's services agency in New York.
Mr. Gorman and his wife, Penny, reside in New York City with their two
children.
SOURCE Merrill Lynch & Co., Inc.
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CONTACT:
James R. Wiggins of Merrill Lynch & Co.,
Inc., 212-449-7280, or jwiggins@exchange.ml.com
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