(December 7 – 13:15 ET) – Merrill Lynch HSBC, the global online investment and banking services company, has announced that Margaret Barrett, executive vice president of Consumer Lending at the Bank of Montreal, will be joining the firm as CEO.

Edward Goldberg, acting chief executive officer of the firm and Merrill Lynch executive vice president of operations services, who has successfully overseen the development of the business over the past eight months, will remain a member of the Merrill Lynch HSBC Board.

“Joining Merrill Lynch HSBC at such an exciting time in its development will clearly be a great challenge and opportunity for me,” said Barrett. “Providing wealth management services for the self-directed investor in one totally integrated banking and investment account will, I believe, be the future of financial services. I cannot think of a better combination than Merrill Lynch and HSBC to deliver a world-beating service,” she added.

“The recent launch of the service in Canada and of the research offer in the UK, together with the forthcoming launch in Australia, are a solid platform for Merrill Lynch HSBC to build on as it expands its service further internationally, and I look forward to contributing to its success.”

At the Bank of Montreal Ms. Barrett was responsible for all of its consumer lending products within the bank’s Personal Banking Products division. Since 1998, she had held the position of executive vice president of Bank of Montreal and president, Bank of Montreal Mortgage Corporation, Personal and Commercial Financial Services.

Prior to joining the Bank of Montreal, Margaret spent three years with Connecticut-based GE Capital Services, where she held a variety of senior roles since 1995, notably president, Consumer Direct, the chief executive responsible for a start-up venture to build direct-to-consumer financial services products.

From 1980 to 1995 Margaret worked for AT&T, where she held several senior international positions concentrating on the highly competitive domestic and global consumer long distance segment. Subsequently, Margaret was promoted to president of AT&T Worldplus Communications Service, a subsidiary of AT&T, which offers enhanced communications outside the United States.

She will join the company on Jan. 1, 2001, and will be based in London, the company’s global headquarters.
-IE Staff