Malcolm Stewart, head of leveraged finance and high-yield capital markets at Citigroup in London, has left the firm for Merrill Lynch. In his new London role as head of leveraged capital markets he'll be covering loans and bonds An official at Merrill said it plans to make more high-yield hires in the next two weeks. The firm aims to be a top five player in European leveraged finance by the end of the year (BW, 8/9). Stewart replaces Ian Gilday who jumped to Goldman Sachs earlier this year (BW, 3/21). He was between jobs and could not be reached. He will report to Andrew McCullagh, head of European leveraged finance, who did not return calls by press time.
At Citi, Stewart had recently been joined by a new co-head of leveraged finance and high-yield capital markets--Scott Miller moved to London from New York in February. It is unclear if or how this affected Stewart's role.
