Wealth-Management Chief at Merrill Lynch to Exit

Bob McCann, head of Merrill Lynch Global Wealth Management, will be leaving the company after 26 years, CEO John Thain announced to employees in a firm-wide email Monday afternoon.

Prior to being named head of GWM, McCann worked as head of the Global Equities division, head of the Global Institutional Client division and chief operating officer of Global Markets & Investment Banking at Merrill Lynch. He left the company briefly in 2003 to join AXA Financial, but returned to Merrill that same year to run the private client division.

His departure marks the first member of Merrill’s old guard to exit after the brokerage’s $19 billion purchase by Bank of America (BAC) closed last week.