Merrill Lynch relocates sales team

Merrill Lynch has relocated its Tokyo-based foreign exchange sales team of around 12 senior personnel to Hong Kong. The team includes Rig Karkhanis, head of FX and local currency trading, Pacific Rim, and Yue Wu, head of FX sales. They both still have a reporting line to Japan, with Karkhanis reporting to Jason Brand, co-head of Pacific Rim global markets and investment banking in Tokyo. There have been no new hires as yet, but it is believed the latest development is part of the US bank's

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