Adam Clayton, managing director and head of European credit derivatives at Merrill Lynch in London, has quit the firm. Clayton could not be reached for comment, but an official familiar with the situation said he resigned on Friday. Clayton reported to Paul Horvath, head of structured credit product management, who was traveling and could not be reached for comment. Alex Walker, spokeswoman, declined immediate comment.
Clayton's resignation follows some other recent senior credit departures from Merrill in London. Malik Chaabouni has jumped to Deutsche Bank (DW, 2/17), Kaan Basaran is moving to Credit Suisse in Istanbul (DW, 3/24) and Saad Ashraf, is joining Goldman Sachs in London. Market buzz has it that Clayton will follow Ashraf to Goldman, but this could not immediately be determined.
