Merrill boosts securities lending

One new appointment and more to come, says Merrill Lynch.

Merrill Lynch has hired Melvyn Ford as head of Pacific Rim stock lending. He joins from Deutsche Bank and will be a director of the firm based in Hong Kong. Ford will report locally to Paul Masi, head of Asia Pacific Rim equity markets and to Ted Platt who heads Securities Lending based in London.

The appointment will be the first of many, according to sources close to Merrill, as the firm seeks to boost its stock lending and prime brokerage businesses. These are seen as naturally complimentary business to Merrill's large brokerage and deriviatives oeprations, which in turn are trying to get a bigger slice of the Asian hedge fund pie.

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