Merrill shares rise on hopes for new CEO

Newswire

By Tim McLaughlin NEW YORK, Oct 29 (Reuters) - Shares of Merrill Lynch & Co rose as much as three percent on Monday as investors bet the biggest U.S. brokerage wouldn't keep investors waiting too long before announcing a replacement for Stan O'Neal, who presided over the biggest quarterly loss in the firm's 93-year history. O'Neal's tenure as chief executive and chairman is at risk after an $8.4 billion write-down for the third quarter, mostly because of bad bets on securities tied ...

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