NEW YORK (Reuters) - Herbert Allison Jr, a former Merrill Lynch & Co president who also oversaw the U.S. government’s $700 billion bank-bailout program, died on Sunday at the age of 69, Bloomberg News reported on Monday.
Allison died at his home in Westport, Connecticut, Bloomberg reported citing an interview with his son Andrew.
“Herb was part of the proud Merrill Lynch tradition, helped build our company to what it is today, and served with distinction as a public official at an important time in our history. We extend our condolence to his family,” Bank of America Chief Executive Brian Moynihan told Reuters on Monday evening.
Merrill Lynch agreed to be bought by Bank of America Corp BAC.N at the height of the financial crisis.
Reporting By Dhanya Skariachan