NEWSMAKER-Merrill CEO's rise buckled by risky mortgages

Newswire

By Tim McLaughlin NEW YORK, Oct 29 (Reuters) - The anticipated departure of Merrill Lynch & Co Inc Chief Executive Stan O'Neal would mark a surprising flameout in a career that had been impressive in its ascent. The first African-American to run a major Wall Street firm, O'Neal appears to have lost his grip on the top job after misjudging subprime mortgage risk and presiding over the biggest quarterly loss in the brokerage's 93-year history. O'Neal, 56, who is also Merrill's ...

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