Raymundo Yu gets top spot at Merrill lynch

Raymundo Yu has been named as the Chairman of Merrill Lynch Asia Pacific, replacing Kevan Watts.

After months of behind-the-scene deliberation, Merrill Lynch has finally named its new chairman of Asia Pacific Region. Raymundo Yu will take over from Kevan Watts, who moved to London to become global co-head of the investment banking group in April. Yu will also continue his responsibilities as head of the international private client group for Asia Pacific and Australia.

In his new position, Yu will dictate the firm's strategy in Asia and he will become the chairman of the executive committee for the region. Yu has been with Merrill Lynch since 1981, when he joined the group as a management trainee. His first position was as a marketing officer. He has run the private...

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