E. Stanley ONeal was named president and COO of Merrill Lynch & Co. Inc. He also was elected to the board of directors. Mr. ONeal replaces Herb Allison, who retired in July 1999. Mr. ONeal was president of Merrill Lynchs U.S. Private Client Group and previously was CFO. He also was co-head of the Corporate and Institutional Client Group.
Mr. ONeal will continue to head the private client group until a successor is named.