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William A. Schreyer, president and chief executive of New York-based Merrill Lynch & Co., was appointed to the additional post of chairman of the worldwide financial-services company.
Schreyer, 57, will succeed Roger E. Birk, 54, as chairman. Birk is retiring and was given the honorary title of chairman emeritus.
Schreyer has led a campaign to contain costs and restructure the company since he was named chief executive last July. He became president in January, 1982.
Schreyer, who joined Merrill Lynch as an executive trainee in 1948, was named chairman of Merrill Lynch Government Securities Inc. in 1973. He became president and chief administrative officer of Merrill Lynch, Pierce, Fenner & Smith, the company’s principal securities and investment banking subsidiary, in July, 1978, and was later designated chief executive and chairman of the unit.
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