Merrill recently announced an $8.4 billion write-down and a $2.3 billion loss for the third quarter. Until May, when he was appointed co-president, Mr. Fleming was the co-head of global markets and investment banking. His co-head, Dow Kim, was primarily responsible for trading while Mr. Fleming focused on investment banking. As co-president, Mr. Fleming has been involved in trying to grapple with the bank’s subprime exposure.  Representatives for Mr. Fink and Merrill Lynch declined to comment.  Mr. Fink is certain to be concerned about Merrill’s additional exposure to subprime-related securities, estimated by some analysts to range from $4 billion to $10 billion. He would also have to work with the board to deal with his roughly $400 million stake in BlackRock — a potential conflict of interest because Merrill Lynch sells mutual funds, including BlackRock’s, through its private client business. Selling the stake or swapping it for Merrill Lynch stock would have severe tax implications, say compensation experts.  Merrill’s search committee is being run by Alberto Cribiore, who is the acting nonexecutive chairman and who is now working on the 32nd floor of Merrill’s north tower. A private equity executive, he has known Mr. Fink socially and professionally for years.  Merrill Lynch is not the only financial giant searching for a chief executive. Last weekend, Charles O. Prince III resigned as chief executive of Citigroup after it became clear that the banking giant would have to take an additional $8 billion to $11 billion write-down, on top of the $5.9 billion write-down the firm took in the third quarter.  Both Merrill and Citigroup plowed into the business of manufacturing collateralized debt obligations, securities that were backed by supposedly pristine, top-rated collateral. In recent weeks, that collateral has been downgraded, sending institutions across Wall Street reeling, and regulators are scrutinizing how the banks are valuing their positions.  One particular issue for securities regulators is why Merrill Lynch announced a $5.5 billion write-down only to increase that to $8.4 billion in the space of weeks. While the securities have diminished in value, there is a great deal of subjectivity in how they are marked and there is little confidence that Wall Street has fully taken the brunt of the pain.  Mr. Fink, if he were to take the job, would be responsible for rebuilding Merrill’s risk management culture as well as soothing the tensions that Mr. O’Neal seemed to foster.  A version of this article appears in print on , on Page C2 of the New York edition with the headline: BlackRock Chief Is Said to Be Meeting Over Merrill. Order Reprints| Today's Paper|Subscribe
Laurence D. Fink, the leading candidate to become the head of Merrill Lynch, has met with the executive search firm responsible for filling the position, according to a person briefed on the discussions.