Merrill Lynch has reorganized its structured equity derivatives sales group to give it a client focus rather than a regional focus. The firm is making the move now because there be increasing demand from institutional clients for structured equity products and these clients demand that the sales force be familiar with the structure of their firm, said an individual familiar with the firm.
Amilcare Police, a senior marketer to Italian clients in London, has been named head of sales to institutional clients including insurance companies and pension funds, while Agnes Lerouge, a senior marketer to France and Belgium in Paris, has been appointed head of sales for derivatives hedges to banks, private banks and fund managers selling to retail investors. It has not been decided whether she will relocate to London. Joachim Willnow retains his role as head of structured products marketing, but as the German group is being divided between products, he will no longer head a German group. Willnow did not return calls. Each marketing group still contains a specialist to lend expertise within the three regional areas, said the official.
Mike Fullalove will continue to head origination of Merrill Lynch branded products, but will be structuring more products for institutions because the firm has seen an increased demand. Pierre Mendelsohn will still market those fully manufactured products to Merrill's retail customer base and to third-party distributors. Fullalove, Lerouge, Mendelsohn and Police declined comment.
