Merrill Lynch CEO David Komansky plans to leave the CEO job at the firm before retiring in 2004, to allow president Stanley O’Neal to take full control of the company, according to a report from Registered Rep.

Komansky reportedly made the comments Tuesday at a Credit Suisse First Boston conference. RR indicates that the transcript of Komansky’s presentation does not include comments about relinquishing the CEO title, but sources at the conference in Laguna Niguel, Calif. confirm that Komansky made the statement. Merrill has yet to comment.

Over the past year O’Neal has clearly taken command of the Thundering Herd. He engineered a management reshuffle, sold off the Canadian retail arm and cut thousands of jobs. Last week, he established an operating committee of top executives that does not include Komansky.

At the CSFB conference, Komansky talked about Merrill’s restructuring and growth plans.