Merrill Lynch Replaces Risk Chief In Wake Of Q3 Losses

FRONT PAGE

NEW YORK--Merrill Lynch is re-organizing its market and credit risk management procedures following a third quarter net loss of $164 million. The bank has appointed Richard Dunn as head of global risk and credit management. Dunn replaces Daniel Napoli, who had overseen the bank's risk management group since 1987. Merrill sources attribute its third quarter losses to risk models that failed to foresee the recent unprecedented widening of spreads in the global bond markets.

Separately, Merrill has

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here