Merrill Lynch Asset Management (MLAM) announced that Greg Bundy will become chief operating officer, effective June 1. As the group's coo, Bundy will succeed and report to Terry Glenn, who was recently named president of MLAM Funds. Bundy has been co-ceo of Merrill Lynch Australia for the past two years, having served in a number of positions around the world since joining Merrill Lynch in 1984.

"Greg's appointment will help us advance the initiatives we're undertaking at Merrill Lynch Asset Management right now," said Jeffrey Peek, president of the Asset Management Group (AMG). "It is an exciting period in the group's history, with a new management team in place, new products on the horizon and renewed focus on our investment performance."

Merrill is reportedly close to naming a chief investment officer, which remains the key part of the asset management's re-structuring initiatives. This effort has mainly consisted of management moves and a broadening of product lines in an attempt to improve overall performance.

The Boston Company Asset Management LLC, a unit of Mellon Bank, said that it has hired John Kattar as director of domestic equities, a new position, responsible for overseeing the firm's equity investment management strategy, including portfolio management, research and trading.

"The addition of John to our firm will help us to continue to provide our clients with solid performance and reflects our commitment to investing in talent to strengthen our position as a leading value manager," said Francis Antin, chief executive officer of The Boston Company Asset Management.

Kattar comes to The Boston Co. after serving as managing director of equities and director of equity research at Hartford-based Phoenix Partners. Previously, he was senior vice president and director of Baring Asset Management and Baring Mutual Fund Management, where he managed equity portfolios for domestic and international pension plans, endowments and mutual funds.

"John's background as a quantitative and fundamental analyst and his experience as a portfolio manager in a team-oriented investment process make him a great fit for The Boston Company," added Scott Powers, chief operating officer of The Boston Company Asset Management.

The Boston Company Asset Management is part of Dreyfus Institutional Investors, the umbrella organization and service mark for several of Mellon Bank Corporation's (MEL) investment management subsidiaries. The other firms include Certus Asset Advisors, Franklin Portfolio Associates, Mellon Bond Associates, Mellon Capital Management Corporation, Mellon Equity Associates, U.K.-based Newton Management Ltd., and minority investments in Pareto Partners and Prime Advisors.

In another people move, Denver-based Invesco added a portfolio manager to the team managing the Invesco Blue Chip Growth Fund. Doug McEldowney will serve as co-manager, sharing responsibilities with Trent May, lead manager of the fund. McElDowney joins Invesco from Bank of America in Sarasota, Florida where he had been a portfolio manager.

"We are pleased that Doug has joined Invesco," said Mark Williams, ceo and president of Invesco Funds Group. "He has an extensive background working with growth management style and will be a great asset to our investment team." 

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