Merrill Lynch has hired Chris Ricciardi, head of U.S. CDO origination at Credit Suisse First Boston in New York, to head the firm's global CDO structuring and origination business. Merrill reportedly hired Ricciardi because Mac Taylor, managing director and head of global structured products in New York, will take control of more areas of the firm and wants to add another layer of management for the day-to-day running of the CDO business, according to a Merrill insider.
Ricciardi will report to Taylor, noted the insider, who declined to give further details. Taylor declined comment. Ricciardi could not be reached. Michael DuVally, spokesman, declined comment. John Gallagher, spokesman at CSFB in New York, did not return calls.
