The news represents the second departure of former Merrill Lynch executives since the firm was officially acquired by Bank of America on January 1. It comes days after the exit of Robert McCann, former vice chairman of Merrill’s wealth management unit (see “McCann Exits Merrill after Bank of America Takeover’).
In October, it Bank of America announced that Fleming would head the combined firm’s Global Corporate and Investing Banking, including commercial banking (see “Bank of America Fills Out Leadership Team’).
Fleming will join the faculty at Yale Law School, where he graduated in 1988, as senior research scholar and a distinguished visiting fellow of the Center for the Study of Corporate Law, according to a press release from Yale. “In the past two decades, Greg has led an extraordinary career in global financial services and has justly earned his reputation as a clear-eyed and foresighted manager operating in the eye of the current global financial storm,’ said Yale Law School Dean Harold Hongju Koh, in a statement.
Fleming joined Merrill Lynch as an investment banker in 1992 and served as executive vice president and co-president of the Global Markets and Investment Banking Group from 2003 to 2007. He was appointed president and COO in June of 2007, according to the release.