In their new roles, Zuberi and Cox will work to expand the geographical and product reach of its equity product.
The appointment of two people to co-head the ECM business reflects the increased volume of business Merrill is doing as well as the growing importance of the Asian region for the investment bankÆs revenues, one observer notes. Both are very good in terms of bringing in clients and the pair will complement each other in terms of the geographical expertise and client relationships that they have accumulated in their present positions, he says.
Zuberi, who has been with Merrill for 12 years, has most recently been responsible for the redevelopment of the bankÆs ECM franchise in Southeast Asia. He has also held a variety of ECM roles in New York, Hong Kong and Singapore, working on both traditional and structured products. He is currently based in Singapore, but will relocate to Hong Kong to take up his new position.
Cox, meanwhile, joined Merrill from Goldman Sachs two years ago and since then has been responsible for the business in Korea, Taiwan, and most recently China. Currently based in Hong Kong, Cox has been in Asia since 1995 and has held a number of DCM and ECM roles.
Cox and Zuberi will report locally to Sheldon Trainor, head of Asian investment banking and origination, and regionally to Ian Carton, head of Pacific Rim ECM.
The appointments come a day after Merrill announced that its current head of Asia execution and syndication, Sumeet Puri, will relocate to Mumbai to become head of ECM and head of structured origination for India.