Merrill Lynch & Co., New York has hired James P. Gorman as chief marketing officer, a newly created position.

As a senior partner at New York-based McKinsey & Co., Mr. Gorman was Merrill's adviser in private client marketing, corporate strategy, insurance, technology, and asset management.

He will now oversee Merrill's marketing strategies and initiatives worldwide and become a member of the executive management committee. He will work with business group leaders to enhance the company's brand, establish marketing alliances, and develop campaigns for new Internet channels, Merrill said. Mr. Gorman will start July 19 at the rank of executive vice president.

He had been a member of McKinsey's financial institutions practice for 12 years. From 1992 to 1996 he was co-head of McKinsey's personal financial services practice for North America. He became a partner in 1992 and a senior partner in 1997.

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