(Bloomberg) — Sam Chapin and Dan Cummings, senior Merrill Lynch executives who helped meld the firm to Bank of America after the financial crisis, plan to step down as vice chairmen, ending more than 50 years of combined work at the company.
Chapin joined Merrill in 1983, focused on industrial deals and eventually ran its global investment banking group. “I look forward to starting a new chapter, which I’m hopeful will include a mix of board memberships and non-profit work in education, arts and public policy,” he wrote in an internal memo sent to staff.
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