Merrill Lynch appointed Nelson Chai as executive vice president and chief financial officer of the company. Prior to joining Merrill, Chai served as executive vice president and chief financial officer of NYSE Euronext, and its predecessor company NYSE Group, Inc.

RBC Dain Rauscher has named Ken Sullivan the new complex director in Beverly Hills. Formerly branch director in Century City, Sullivan was replaced by David Calomese, who joined RBC Dain from Smith Barney.

Robert W. Baird hired Geoffrey Mackey as Private Wealth Management Marketing Manager. Mackey previously served as group-marketing and training manager for Marshall & Ilsley Corporation's Wealth Management Division.

Greg Garvin has been named executive vice president of Independent Distribution for AIG VALIC where he will manage a newly formed division focused exclusively on AIG VALIC's expansion into the independent-distribution channel. Most recently, Garvin served as president of Security Distributors, a unit of Security Benefit Life Insurance Company.