Merrills set for shake-up
Merrill Lynch’s senior management is in for a shake-up with the news that chief executive officer for Australasia John Magowan will retire.
Merrill Lynch’s senior management is in for a shake-up with the news that chief executive officer for Australasia John Magowan will retire.
Magowan joined Merrill in 1997 with the acquisition of McIntosh Securities where he was also chief executive officer. He headed Merrill's operations in Australia and New Zealand and oversaw the integration of the combined firms.
At the same time, executive chairman for Asia Pacific Kevan Watts will move to become co-head of global investment banking with Dan Bayly. The change in role will see Watts move to London.
Merrill has also named current co-head of the Americas for Merrill Lynch Invest-ment Managers Greg Bundy as Merrill Lynch Asia Pacific and Australasia Presi-dent.
Bundy will oversee all Merrill business on a regional basis and has previously worked as co-chief executive officer in Australasia before heading off to the US last year.
Michael Tilly will remain as chairman of Merrill Lynch Australasia and will as-sume further responsibilities for the region.
AUTHOR
Jason Spits
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