Rahman steps down as Asian IB co-head

Senior management changes at Merrill Lynch result in the formation of a new executive management committee and the loss of Aj Rahman as a co-head of Asian investment banking.

Merrill Lynch announced the formation of a new executive management committee in Asia yesterday Monday, promoting two of the firm's most senior originators and retaining the services of one of two existing investment banking co-heads.

In an internal memo penned by global investment banking head Sam Chapin, Merrill's said the three new co-heads of Asian investment banking would be KL Wong, currently vice Chairman of Asia and head of Hong Kong investment banking Erh Fei Lu chairman of Merrill Lynch China and Samuel Poon, who has run Asian IB alongside Rahman since November 2001.

At the same time, Chapin said Australia is being split away from non-Japan Asia and its...

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