Merrill Lynch & Co. on Thursday named Richard A. Dunn as senior vice president and head of global risk and credit management.

Mr. Dunn, 35, has been co-head of global equity markets. He succeeds Daniel T. Napoli, who is taking a leave of absence; Mr. Napoli had been in charge of risk management since 1987.

Paul D. Roy, who has been the other co-head of global equity markets, will now lead that group alone. He will remain in London.

Mr. Dunn joined Merrill in 1990. He will report to E. Stanley O'Neal, executive vice president and chief financial officer, and will also be a member of the firm's executive management committee.

Earlier this week Merrill said it will cut 3,400 jobs worldwide, or 5% of its work force.

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