Connie Voldstad, who moved to Dresdner Kleinwort Wasserstein as adviser to the chairman in 1999, was one of Merrill Lynch's debt capital markets stalwarts, and a pioneer of derivatives.
As head of Merrill Lynch International, he was responsible for European government bond trading, Eurobonds, derivatives and capital markets origination in Europe. As president and chief executive of derivative products he was responsible for the development of the AAA/Aaa rated swap subsidiary of Merrill Lynch & Co.
Voldstad was brought to Merrill Lynch from JP Morgan in 1988 by Edson Mitchell (see profile), who was running Merrill's global debt operation. Voldstad had been senior vice president and executive director for worldwide swaps and Eurobond underwriting at JP and was tasked with building a debt capital markets group for Merrill Lynch in Europe. The first big deal put out by the new team was a $350m issue for British Gas in 1989.