Merrill Lynch has appointed Eugene M. McQuade vice chairman and president of Merrill Lynch’s US banks.
In this new position, McQuade will be responsible for all US banking operations, including Merrill Lynch Bank USA (MLBUSA) and Merrill Lynch Bank & Trust Co., FSB (MLBT). He will report to Robert J. McCann, president of Global Wealth Management at Merrill Lynch, and join the Global Wealth Management Executive Committee.
“I am very pleased to welcome Gene to Merrill Lynch. Gene’s appointment underscores the importance we place on banking and the tremendous business opportunities it creates for our franchise. He is an outstanding executive with deep experience in the banking industry and we will look to his leadership as we further develop and implement our strategy for the bank group,” says John A. Thain, chairman and CEO, Merrill Lynch.
Prior to joining Merrill Lynch, McQuade was president and chief operating officer of Freddie Mac. He has also served as president of Bank of America Corporation, president and chief operating officer of FleetBoston Financial, and executive vice president and controller of Manufacturers Hanover Corp., a predecessor of J.P. Morgan Chase. McQuade began his career at KPMG Peat Marwick in New York.