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Derivatives

Merrill Hires JPMorgan Credit Sales Chief

Merrill Lynch has hired Paul Horvath, global head of structured credit marketing and distribution at JPMorgan in London.

Merrill Lynch has hired Paul Horvath, global head of structured credit marketing and distribution at JPMorgan in London. According to an internal memo obtained by DW, Horvath joins Merrill as head of structured credit product management for Europe, the Middle East and Africa, reporting to Mike Pascucci, head of EMEA credit products.

One banker said Horvath is a good fit for Merrill because, although it is a strong cash structured credit house, it has lost its way in derivatives and Horvath should be able to reignite that business. Horvath did not return calls to his cell phone.

At JPMorgan, Horvath was co-head of structured credit with Oldrich Masek, head of European structuring, according to Sarah Oppler, spokeswoman for JPMorgan in London. Oppler declined comment on Horvath's replacement.

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