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Changes at Merrill

Russell Stein has become head of treasury at Merrill Lynch in New York, a spokesperson confirms. He replaces John Stromber, who left the bank for personal reasons at the end of July. No further details were available by press time. The move comes in the wake of some significant moves at Merrill's Global Markets & Investment Banking (GMI) division, which saw Greg Fleming and Dow Kim named as co-heads, following the retirement of former president Arshad Zakaria. The pair will report jointly to Stan O'Neal, chairman and chief executive officer. Kim, most recently head of global debt markets, will be responsible for the global debt and equity business, while Fleming, co-head of the financial institutions group of global investment banking until now, will be responsible for all origination activities, including global investment banking. Kim joined Merrill in 1994 from Chemical Bank and Manufacturers Hanover, where he held positions in FX, derivatives and commercial banking. Fleming has...

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