Michael O’Leary, a former executive with Merrill Lynch, has been named the new chief executive at Knight & Carver. O’Leary will oversee all operations at the California-based yacht repair and refit facility.

At Merrill Lynch, O’Leary was responsible for overseeing approximately 150 employees in San Diego, Rancho Bernardo and Escondido. He retired from that company in 2006 after 31 years in the financial services industry. O’Leary then founded the Wyoming Channel, a digital multi-media firm in Wyoming.

“I look forward to leading our team to a higher level in which we achieve a more sustainable business model,” said O’Leary in a statement. “While the past few years have certainly been a challenge for the entire industry, Knight & Carver continues to thrive, thanks to our reputation for providing world-class marine craftsmanship, quality and service.”

Sampson Brown, former president and CEO of Knight & Carver YachtCenter, made the announcement. “We welcome Michael and his record of leadership in sales and management,” said Brown, who remains a consultant to the board of directors. “We are ready to meet our challenges head-on as we embark on a new era of professionalism in all phases of our company.”