Merrill to review global set-up
Sunday 13 October 1996
Senior Merrill executives are conscious that the rapid expansion in markets away from its New York base may render the traditional centralisation of management responsibility less relevant, and they are prepared to consider changes that would reflect the greater internationalisation of the business.
Any changes are unlikely to be implemented for some time but initial soundings suggest regional chief executives may be appointed in Europe, Asia and Latin America.
In Europe, there are three potential candidates; Michael Marks, Kevan Watts and Anders Bergendahl.
Mr Marks is the former chairman of Smith New Court, which Merrill acquired last year. He is co-head of Merrill Lynch's Global Equities Group and the only non-US based member of the firm's executive management committee in New York. Mr Bergendahl is co-head of the firm's Global Debt Capital Markets Group. Mr Watts is head of investment banking in Europe.
The expansion of Merrill's European operations has been dramatic. Apart from the acquisition of Smith New Court, it has also built up a sizeable investment banking business.
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 4 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
Germanwings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending
Amanda Knox murder conviction: Italian court overturns verdict for US student and Raffaele Sollecito in the killing of Meredith Kercher
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Nigel Farage brands LGBT activists 'filth' and 'scum' and accuses them of scaring away his children after they invade his local pub
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Russia threatens Denmark with nuclear weapons if it tries to join Nato defence shield
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Germanwings plane crash live: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...