Merrill Lynch Investment Managers promoted Mary Taylor to co-head of MLIM Americas and Hannah Grove to chief marketing officer, among a number of other executive promotions. Although the organizational changes were directly caused by Gregory Bundy's promotion to vice chairman of Asia-Pacific, the changes also extend from the corporate strategy aimed at balancing institutional and retail asset capture.

Taylor was most recently senior vice president of human resources. She will serve as co-head with Robert Doll, the chief investment officer.

Promoted from the head of retail marketing position, Grove's promotion will entail responsibility for both retail and institutional marketing. Her responsibilities will include filling out the product lineup and communicating Merrill's beefed-up institutional asset management capabilities, according to a spokesperson.

Martin Andrew, the previous head of institutional marketing, will return to London as chief operating officer of the Private Investors division of MLIM Europe, Middle East and Africa regions.

Paul Galietto, the head of sales for MLIM Americas, will also be promoted to chief operating officer for the retail business.

Frank Salerno has been named the chief operating officer of the institutional side. Additionally, Frank will remain on the Quantitative Advisors team that was removed from Bankers Trust in 1999.  

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