Ahmass L. Fakahany, 49, co-president and chief operating officer of Merrill Lynch, has informed the company of his decision to retire and will leave his current role, effective 1 February.
Fakahany joined Merrill Lynch in 1987 and has served in a variety of senior roles.
“With more than 20 years at Merrill Lynch, his contributions have been deep and broad, especially in leading our strategic growth and position outside the United States. On behalf of the management team and the board of directors, I thank him for his years of service,” says John A. Thain, chairman and CEO, Merrill Lynch.
Prior to his role as co-president and chief operating officer of Merrill Lynch, Fakahany was vice chairman and chief administrative officer from 2005 until he was appointed to his current role in May 2007. From 2002 to 2005, Fakahany served as executive vice president and chief financial officer. From October 2001 to November 2002, Fakahany served as chief operating officer of Global Markets and Investment Banking.
Fakahany also held a number of senior positions outside of the United States, including chief administrative officer of Merrill Lynch’s Japan operations, chief financial officer for the Pacific Rim region, and finance director for Merrill Lynch’s Europe, Middle East and Africa operations.
“I have fulfilled my commitments to John and the board. I leave knowing that the firm’s financial condition is significantly enhanced and the new team is in place and moving forward. It has been a privilege and honor to be part of Merrill Lynch. I want to also express my deepest thanks to my colleagues throughout the company for their support and dedication. I wish them and the firm every success in the future,” says Fakahany.