Merrill Lynch has reorganized its senior equity-linked chiefs, following the resignation of Simon Brookhouse, managing director and head of global equity-linked business for Europe, the Middle East and Africa. Brent Clapacs, responsible for the equity-linked business in the U.S., will move to London to head the equity sales function for EMEA, according to insiders. Clapacs will have overall responsibility for structuring and sales, including derivatives, cash and equity financing. Merrill's hedge fund initiatives will also be brought under Clapacs' command. Clapacs could not be reached.
David Jervis, head of the investor client group for Europe, Middle East and Asia, will continue in a similar role and add responsibility for the investment management business across debt and equity. Jervis, who did not return calls, will work with both product and sales heads, according to officials. Patrick Meyer, spokesman for Merrill in London, confirmed the move and said the changes will further strengthen the U.S. house's client franchise and its overall global sales and trading capability.
