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John Thain's Farewell To Bob McCann: Did He Really Use The Word "Enrich"?

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Sent: Monday, January 05, 2009 4:50 PM
Subject: Bob McCann to Leave the Firm
A message from John Thain, president of Global Banking, Securities & Wealth Management: Bob McCann to Leave the Firm
Dear Colleagues:

Bob McCann, head of Merrill Lynch Global Wealth Management and a valued member of Merrill Lynch's executive management team, informed me this morning of his decision to leave the firm.
During a distinguished 26-year career with Merrill Lynch, Bob has been a significant contributor to the company and, in the face of extraordinary challenges, he provided strong leadership for our Global Wealth Management business. Since being named head of Global Wealth Management in 2003, Bob has developed a first-rate leadership team
that has been able to deliver record results and lead the industry by almost every measure. His commitment, expertise and deep understanding of our clients and their needs have made him one of the most respected leaders in our industry.
Bob told me: "After much reflection and deliberation, I have decided that this is the right time for me to move on. This was not an easy decision. My time at Merrill Lynch has enriched my life both professionally and personally. I'm proud to have been part of such a great company, and I feel fortunate to move forward with treasured friends and memories."
Prior to serving as head of wealth management, Bob led Merrill Lynch's Global Securities Research and Economics group where he was charged with restructuring and refocusing Global Research, implementing new policies aimed at reinforcing the independence and objectivity of the company's research.
Bob has held a succession of producer and management positions across the company. After joining Merrill Lynch in 1982, he went on to help build our global equities franchise over the next 16 years. Among his many roles, Bob served as head of the Global Equities division, head of the Global Institutional Client division and chief operating officer of Global Markets & Investment Banking.
It's been a pleasure to work with Bob this past year. He's been a valued leader, mentor and friend to countless colleagues over the years, and his contributions to Merrill Lynch and our industry are well known and appreciated. I know you join me in thanking Bob for his years of service and wishing him, his wife, Cindy, and their two daughters, Meredith and Madeline, all the best in the future.


The Art Of The Farewell

Not everyone gets to write a New York Times Op-Ed when they quit their job, however disaffected. It’s also easier to quit a job after twelve years of cashing investment banking paychecks. No matter how “morally bankrupt” Goldman Sachs is, Greg Smith isn’t giving his bonuses back. Unlike Smith, who quit his job on his own terms and got to publish most of his resume in the Times, most of corporate America isn’t as lucky – and almost everyone in corporate America really wants to quit their job. So what are you supposed to do if you can’t get any above-the-fold space in a major newspaper? You have to burn bridges the old fashioned way – by writing a farewell email.