Merrill creates role for new Asian IB head

Sheldon Trainor becomes head of Asian investment banking at Merrill Lynch.

Sheldon Trainor has left Morgan Stanley to become head of Asian investment banking at Merrill Lynch. In what is a newly created position, he will report to Damian Chunilal, the firm's respected head of Pacific Rim investment banking, who has been in the position for little over a year.

Trainor's last day at Morgan Stanley was yesterday Monday and he starts a one-month period of gardening leave today. For the last four years, he has been an MD running the firm's highly successful general industries group GIG for the region. This basically encompasses all investment banking clients that are not tech companies, telcos or financial institutions.

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