merrill-cuts-at-least-75-jobs-in-asia

Merrill cuts at least 75 jobs in Asia

Among those leaving is the head of structured finance for Asia ex-Japan, Rajiv Garg, who says there are still short-term trading opportunities in the market which he intends to tap.
Merrill Lynch has embarked on a round of layoffs that will cut at least 75 jobs in the Asia-Pacific region, according to sources. Most of the cuts will come in the bankÆs trading and sales divisions and will affect both its fixed-income and equities business.

Not too surprisingly, the layoffs include several high-profile people who used to focus on structured finance and structured credit û a business that has come to a virtual standstill since the financial crisis took hold earlier this year. Among those who have left the bank this week, according to several sources, are Rajiv Garg, head of structured finance for Asia ex-Japan, Carl Im, a managing director and head of one...
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