Merrill Lynch & Co. has named a new chief operating officer of its asset management arm.

Greg Bundy, 36, will assume the role at Merrill Lynch Asset Management on June 1, the company said.

He will succeed and report to Terry Glenn, executive vice president of the unit. Mr. Glenn was named president of Merrill Lynch Asset Management Funds after the recent retirement of Arthur Zeikel, who had been chairman of the asset management group.

Mr. Bundy, a 15-year Merrill veteran, has been co-chief executive of Merrill Lynch Australia for two years.

Merrill Lynch Asset Management, the company's U.S. retail asset management business, consists primarily of U.S. mutual funds. It has about $281 billion of mutual fund assets under management.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.