Bloomberg — Herbert Allison Jr., the onetime president of Merrill Lynch & Co. who oversaw the U.S. government’s bank-bailout program following the financial crisis that led to his former company becoming a unit of Bank of America Corp., has died. He was 69.

He died on July 14 at his home in Westport, Connecticut, of a possible heart attack, his son, Andrew, said yesterday in an interview.

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