Merrill Lynch

(MER)

on Wednesday appointed David Bowers as its chief global investment strategist.

Bowers, 40, will succeed Charles Clough Jr., who is retiring.

Bowers, who will relocate to the U.S. from the U.K., where he has served as Merrill Lynch's chief European equity strategist for the past four year, will now lead the company's team of strategists in charge of advising institutional and individual investors on global investing strategies.

Merrill Lynch said it is planning to add an equity investment strategist devoted solely to the U.S.

Merrill Lynch closed up 2 3/16, or 3%, to 80 3/16.