Former Head of Merrill Lynch (MER) Negotiates With Bofa (BAC)

Robert McCann, former head of Merrill Lynch's (NYSE: AMO) wealth management unit, is in talks to settle a suit he filed August 24 against Bank of America Corp (NYSE: BAC) seeking to lift a non-compete clause, allowing him to join a chief rival. McCann, a three-decade Merrill Lynch veteran, has been linked to UBS potentially becoming the Swiss financial giant's head of wealth management in the Americas.