Merrill Lynch Announces Two Key Business Development Efforts; Leaders Appointed

Business Wire, Jan 30, 2003

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 30, 2003

Caroline Gundeck Named Director of Women's Business Development

and Keith Henry Named Director of the African American Market

Merrill Lynch (NYSE: MER) today announced the launch of two key business development efforts.

Caroline Gundeck will head Women's Business Development and Keith Henry will head the firm's African American Market efforts. Both initiatives are expansions of the Merrill Lynch Multicultural and Diversified Business Development Group, headed by First Vice President Subha V. Barry.

In her new role, Ms. Gundeck will be responsible for leading and expanding the market for high-net-worth women investors. A key area of focus will be to drive new business growth through targeted campaigns for women business owners, women executives and women philanthropists.

Mr. Henry will be responsible for driving strategic business development and market penetration within the African American community. Additionally, he will run the newly created African American Virtual Network, working closely with Merrill Lynch branch offices to provide training for African American Financial Advisors.

The Multicultural and Diversified Business Development Group is focused on establishing Merrill Lynch as the preeminent wealth management firm among diverse and multicultural markets. One of the first markets on which the group focused was the Asian-Indian community in the United States. The next effort was the country's Hispanic-American community.

"We are pleased by the great success of our Multicultural and Diversified Business Development Group," said Robert E. Mulholland, Senior Vice President and head of the Americas Region in Global Private Client. "Our strategy of providing Financial Advisors with special services at a local level has helped us expand our services into diverse markets."

"Caroline Gundeck and Keith Henry are seasoned professionals who have worked closely with our financial advisors over many years. Under their capable leadership, the Women's Business Development and African American Market initiatives will advance our commitment to serving diverse communities," said Ms. Barry, head of the Multicultural and Diversified Business Development Group.

Ms. Gundeck began her career with Merrill Lynch in 1983 in the White Plains, New York office. During her 20-year career, Caroline created the Northern New Jersey Women's Network for Financial Advisors, a program that has since been adopted by many Merrill Lynch districts, and chairs the Advisory Council to Management on Diversity. She was honored by Merrill Lynch in 1999 with the Tribute to Women & Industry Award, and recognized in 2000 by the United Way of Passaic County for her outstanding volunteerism. A graduate of Marymount College in Tarrytown, New York, she earned a BS in Economics.

Mr. Henry joined Merrill Lynch in 1984 in the Operations Management Development Program, where he spent 10 years in various management positions in New York, New Jersey, Atlanta, Denver and Washington, D.C. In 1995, he was promoted to Vice President and Product Development Manager in the Financial Planning Group. Three years later, he became a District Marketing Manager in the Northern New Jersey District, responsible for marketing to 450 Financial Advisors, and in 1999, became Sales Manager in the World Financial Center Office.

In April 2001 Keith was named Director of Diversity for the U.S. Private Client Group. He graduated from St. Lawrence University with a B.A. in economics.

Merrill Lynch is one of the world's leading financial management and advisory companies, with offices in 36 countries and total client assets of approximately $1.3 trillion. As an investment bank, it is a leading global underwriter of debt and equity securities and strategic advisor to corporations, governments, institutions and individuals worldwide. Through Merrill Lynch Investment Managers, the company is one of the world's largest managers of financial assets. For more information on Merrill Lynch, please visit www.ml.com.