Merrill Lynch reshuffles Asia-Pacific equity derivatives team

In an effort to boost its market share in global structured equity derivatives, US investment bank Merrill Lynch has set up an equity structured solutions group. Brent Clapacs, Hong Kong-based head of equity trading for the Asia-Pacific region, will relocate to New York to head the group. Clapacs will report to Rafael Berber, London-based head of Merrill Lynch’s global equity-linked group.

Clapacs and his new team will be responsible for the origination and distribution of the bank’s equity structured solutions globally, including risk management services for investor clients and equity derivatives services for corporate clients.

Meanwhile, James Rodríguez de Castro, who was a Hong Kong-based managing director in the global equity markets, Asia-Pacific, was made head of equity-linked trading for Asia-Pacific. He remains in Hong Kong and will report to Berber as well as Simon Brookhouse, head of Pacific Rim equity markets.

De Castro will be responsible for all equity-linked trading in Asia-Pacific, including convertible bonds, securitised products, listed futures and options and over-the-counter derivatives. Merrill Lynch is also planning to centralise its Asia-Pacific trading activities in Hong Kong, under the leadership of de Castro.