Merrill Lynch & Co., the $70.6 billion, New York-based financial manage ment and advisory company, has named Nelson Chai executive vice president and CFO. Chai, 42, succeeds Jeffery N. Edwards, who will remain with Merrill in an operating role. Chai joins the company from NYSE Euronext where he served as executive vice president and CFO since 2006. He served in the same capacity with Archipelago Holdings Inc. from 2000 to 2005. Prior to Archipelago, he assumed senior roles with Dade Behring, AlliedSignal and Philip Morris.

McDonald's Corp., with headquarters in Oakbrook, Ill., has promoted senior vice president and corporate controller Peter J. Bensen to the position of executive vice president and CFO. Bensen, 45, succeeds Matthew Paull, who has retired. Bensen has spent more than a decade with the $21.6 billion owner of the Golden Arches and has served in a number of capacities including staff director with the financial reporting group, assistant controller and corporate controller. His finance career began at Ernst & Young.

Time Warner Inc., the New York-based $44.2 billion media conglomerate, has named John K. Martin Jr. executive vice president and CFO. Martin, 39, succeeds Wayne H. Pace, who retired. Joining in 1993, Martin served Time in many capacities, including vice president of investor relations. He left in 2000 for ABN Amro Securities, but returned in 2002 as senior vice president of investor relations. He was named CFO of Time Warner Cable Inc. in 2005. Senior executive vice president Robert D. Marcus replaces him at the cable company.

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