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Musical chairs in structured credit

Merrill Lynch is to set up a new debt structuring group for Europe, the Middle East and Africa, focusing on all fixed-income products, except cash and synthetic collateralised debt obligations.

Osman Semerci, head of global markets for Europe, the Middle East and Africa, says the move will help the bank create more derivatives products, which he describes as an important step in the development of the bank's sales and trading capabilities.

The new

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