Bob McCann, the head of the brokerage force at Merrill Lynch & Co., plans to leave the securities firm, with the announcement coming just days after the completion of Merrill's acquisition by Bank of America Corp.
Mr. McCann had led the wealth-management division at Merrill, but saw his responsibilities narrowed slightly in a new lineup set last October by Bank of America. At the time, Bank of America said a higher-ranking "global wealth and investment management" job would be filled by another executive yet to be named.
Merrill's giant brokerage force has been the focus of questions about whether the cost-conscious culture of Bank of America will be compatible with the big-spending Wall Street culture embodied by Merrill brokers who cater to wealthy clients.
Announcement of Mr. McCann's departure was made by John Thain, Merrill's chief executive. Mr. Thain became president of Bank of America's global banking, securities and wealth-management division — in essence, the former Merrill businesses — when the acquisition closed Jan. 1.