Equity Traders Leave Merrill's Prop Desk

Two equity derivatives traders in Merrill Lynch's proprietary trading group in New York have left the desk.

  • 01 Feb 2004
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Two equity derivatives traders in Merrill Lynch's proprietary trading group in New York have left the desk. Jason Harkavy and Omar Brown, both managing directors trading volatility arbitrage and convertible arbitrage, respectively, have moved out of the firm's strategic risk group, said an official. It could not be determined whether they have left the firm or are assuming new roles in the organization. Neither Harkavy nor Brown could be reached and Michael DuVally, spokesman in New York, declined comment.

While the traders are not yet thought to have been replaced, their departure from the group, which comprises both debt and equity proprietary trading, does not necessarily indicate a reduced effort in the overall group, according to an official. It could just be a shift in trading strategies, he explained. Last year Merrill shook up the group by ceasing to trade statistical arbitrage and scaling down its volatility and convertible arbitrage presence (DW, 1/13/03). It later hired Alan Galishoff, head of CMO trading and origination at JPMorgan, for a new position as a proprietary mortgage arbitrageur (1/29/03). The recent changes may represent a shift toward other trading strategies, the official speculated.

  • 01 Feb 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 358,291.38 1348 9.06%
2 JPMorgan 320,704.66 1461 8.11%
3 Bank of America Merrill Lynch 318,128.31 1104 8.04%
4 Goldman Sachs 236,643.87 789 5.98%
5 Barclays 231,197.41 895 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 35,007.57 165 6.53%
2 Deutsche Bank 34,880.53 120 6.51%
3 Bank of America Merrill Lynch 31,805.65 97 5.93%
4 BNP Paribas 27,920.60 169 5.21%
5 SG Corporate & Investment Banking 24,398.89 138 4.55%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,745.92 80 8.85%
2 Morgan Stanley 16,334.63 83 7.32%
3 Citi 15,972.34 95 7.16%
4 UBS 15,487.17 60 6.94%
5 Goldman Sachs 14,053.61 76 6.30%