Merrill loses investment banking head

Merrill Lynch's former head of investment banking, Gregory Fleming, has left the bank, less than two weeks after its acquisition by Bank of America was completed.

Fleming was appointed president and chief operating officer of Merrill Lynch in June 2007, after serving as co-president of the global markets and investment banking group since 2003. He was scheduled to lead the global markets and investment banking division after the takeover.

He has moved to Yale Law School's Corporate Law Center, where he will teach, write and conduct research related to the current global financial crisis. He is returning to the university where he received his doctorate in law in 1988.

In addition to this post, he will provide advisory services to global corporations, financial institutions, financial sponsors and hedge funds in the US and internationally.

Merrill Lynch's former chairman and chief executive, John Thain, currently has overall responsibility for Bank of America's global banking, securities and wealth management businesses.

See also: BoA names regional leadership positions
Bank of America names post-takeover leaders