Ex-Merrill Lynch President Leaving Bank of America

CHARLOTTE, N.C. (AP) -- Bank of America says the former president of Merrill Lynch is leaving, following the completion of the Charlotte-based bank's takeover of the Wall Street investment firm.

The Charlotte Observer reported Friday that Greg Fleming had been in line to lead the corporate and investment banking unit at Bank of America, but instead is taking a teaching job at Yale University.

His departure comes a week after Bank of America closed its $50 billion acquisition of New York-based Merrill Lynch, and follows the departure of another former Merrill Lynch leader, Bob McCann.

McCann had been picked to lead the combined brokerage unit, but said Monday he was leaving.

Bank of America has said it plans to cut up to 35,000 jobs across the combined company over three years.

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