Hung will stay in Hong Kong and remain in his post as head of fixed-income, currencies and commodities (FICC) for the Pacific Rim until a replacement is announced. In that role he has been responsible for all sales, trading, liability management and structuring of fixed-income, currencies and commodities products, as well as principal investments in the region. Perhaps more telling of his importance to the firm, he has overseen a five-fold increase in revenue in three years.
Hung joined Merrill Lynch in 1993 in fixed-income sales, covering Greater China. Since then he has taken on more senior roles with increasing responsibility, including head of the Asia-Pacific Rim debt investor client group, head of the region's debt issuer client group and head of Asia-Pacific Rim's debt markets.
He continues to serve as a member of the Pacific Rim operating committee and will join the global wealth management executive committee.