Dow Kim to leave Merrill Lynch

Dow Kim, president of Merrill Lynch’s global markets and investment banking group, is leaving the bank to set up his own investment firm.

Kim, who has overseen the turnaround of Merrill’s debt markets group since he became head of global debt in 2001, will leave by the end of this year to set up a multi-strategy private fund. Merrill intends to invest in the unnamed venture, says Stan O’Neal, Merrill Lynch’s chairman and chief executive officer.

“For some time now, Dow has expressed a desire to

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