Dow Kim leaves Merrill Lynch
Dow Kim, New York-based co-head of global markets and investment banking at Merrill Lynch, will leave the bank by the end of the year. According to the company, he plans to establish a multi-strategy private investment firm.
Kim rose to the role as co-head of global markets and investment banking in August 2003. (See also: Derivatives expert climbs another rung at Merrill Lynch) A replacement for him is yet to be named.
Meanwhile, fellow co-head of global markets and investment banking Gregory Fleming and chief administrative officer Ahmass Fakahany have been made co-presidents of Merrill Lynch in a management reshuffle. Their successors have not been named. In their newly created roles Fleming and Fakahany will be jointly responsible for oversight of the company’s operating businesses and support services, while the firm’s finance function now reports directly to Stan O’Neal. Both Fleming and Fakahany continue to be based in New York and report to O’Neal.
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