Dorothy “Dee” Sawyer has been named director and head of defined contribution product management at Bank of America Merrill Lynch, confirmed Matthew Card, a company spokesman.
Ms. Sawyer replaces Gary DeMaio, who held the job on an interim basis since February. Mr. DeMaio remains vice president, defined contribution product management, Mr. Card wrote in an e-mail. Mr. DeMaio will report to Ms. Sawyer.
Ms. Sawyer, who starts her new job Aug. 8, is director of channel strategy and development for business retirement solutions at Bank of America Merrill Lynch. The company will soon begin to interview candidates to take over her duties in that post, according to a letter to employees from Stephen Ulian, managing director and head of institutional retirement and benefit solutions at Bank of America Merrill Lynch.
In her new post, “Dee will be responsible for the strategy, development, pricing and implementation of DC products and services that play a critical role in the retirement planning needs of thousands of institutional clients and millions of retirement benefit plan participants,” according to Mr. Ulian's letter.