Bofa loses another Merrill Exec

 

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Copyright 2009 TheStreet.com, Inc.All Rights Reserved
TheStreet.com

11 March 2009 Wednesday 09:54 AM EST

SECTION: NEWS & ANALYSIS; banks

LENGTH: 181 words


TITLE: Bofa loses another Merrill Exec: Report

Signature: Lauren LaCapra, TheStreet.com Staff Reporter

Credit Suisse (CS: NYSE) has poached an advisor to investment bank Merrill Lynch, the latest defection in the middle of the company with the integration of the new owner of Bank of America (BAC: NYSE).

Mark Echlin, who led a group to oversee the tender for industrial customers in Europe, Middle East and Africa, has continued to monitor a larger group at Credit Suisse, according to Reuters, citing an internal memo. In Zurich, Switzerland-rival Echlin oversee capital goods, aerospace and defense, business services, mining and metals, paper and packaging, transportation and logistics, and product construction and materials.

Echlin joined Merrill in 2007 after a stint at Morgan Stanley (MS: NYSE). His departure comes shortly after Mark Aedy, who was recently appointed regional head of investment banking at Merrill, according to Reuters.

There was tension and numerous reports that Merrill brokers leave the new combined entity-Merrill Bofa it faces stringent control regulations and other issues of integration of the cultures of two very different.

LOAD-DATE: 12 March 2009

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