Terence Tsang, managing director and head of Asia Pacific debt markets at Merrill Lynch in Hong Kong, has resigned. Bob Sherbin, spokesman, said Antony Hung, head of the investor and issuer client groups in Hong Kong, has replaced Tsang. In recent months Hung was appointed as Asia Pacific head of the issuer client group, as the former head, Richard Stoddard, moved to a new role at Merrill in New York. "Hung's a rising star over there," said a market official, adding, "Now he's running the show." Hung was traveling and could not be reached.
Tsang reported to Osman Semerci, head of Pacific Rim debt markets in Tokyo. Semerci did not return calls. Reasons for Tsang's departure could not be determined by press time.
