Terry K. Glenn, president of Merrill Lynch Funds of Merrill Lynch Investment Management of New York, has been elected chairman of the Investment Company Institute of Washington D.C., the institute announced.

Glenn replaces John Brennan, chairman and chief executive officer of The Vanguard Group of Malvern, Pa., who has been chairman of the ICI for two consecutive one-year terms, said Chris Wloszczyna, a spokesperson for the organization. The chairman of the ICI usually serves two consecutive terms, he said.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.