Merrill Lynch to lose Dow Kim


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 to establish a multi-strategy private investment firm. Merrill Lynch says it expects to be an initial client of the fund.

The bank's chief executive, Stan O'Neal, says it was an ambition Kim had harboured for some time, and that they had agreed now was an opportune time for him to leave. "I am pleased we will be able to continue to benefit from his investment

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