Merrill Lynch investment chief quits the firm
US - Merrill Lynch has announced that Robert Doll has been promoted from the position of CIO to president of Merrill Lynch Investment Managers (MLIM) in a move that sees him replace former MLIM chief, Jeffrey Peek, who is leaving the firm.
Doll also joins the firm's executive management committee.
The switch at the top of the investment management firm was announced by David Komansky, chairman and chief executive officer of Merrill Lynch: "In his 18 years with Merrill Lynch and in a succession of senior management roles, Jeff (Peek) has made many important contributions to the firm.
"Most recently, he was instrumental in transforming Merrill Lynch into one of the world's leading asset managers for both institutional and retail clients."
Under the new management structure, Doll will report to Michael Marks, who becomes chairman of MLIM while retaining responsibilities as the London-based executive chairman of the company's Europe, Middle East and Africa (MLEMEA) operations.
Komansky added: "Bob Doll is widely respected within the global investment management community.
"As chief investment officer for our asset management business, he has been instrumental in strengthening the investment performance of Merrill Lynch products across the board. Both Bob and Michael bring proven management skills to the business and we are confident that, under their leadership, MLIM will continue its momentum of the past several years."
Doll joined Merrill Lynch in June 1999 as chief investment officer for equities for MLIM Americas. He was named co-head of MLIM Americas in November 1999 and global CIO earlier this year. In addition to his new role as president of MLIM, he will continue to serve as global CIO.
Jeffrey Peek joined Merrill in 1983 as a managing director in the investment banking division. In November 1997, he became president of Merrill Lynch Investment Managers.