Hatstadt leaves Merrill after less than a year

Philippe Hatstadt, a managing director and head of structured credit derivatives trading at Merrill Lynch in New York, has resigned.

According to a source familiar with the US firm’s credit derivatives operation, Hatstadt left Merrill last week.

Hatstadt reported to head of credit derivatives Scott Brown, and had only worked at Merrill for around nine months. The reason for Hatstadt’s swift departure, or his destination, is unknown. Merrill Lynch declined to comment on the matter.

His employment at Merrill followed a 16-month hiatus. Prior to this break, Hatstadt was a senior managing director and head of credit derivatives trading at Bear Stearns in New York.