Merrill Lynch recently hired John Greco, a credit trader at Credit Suisse First Boston in New York, for a similar role. Tom McCreary, head of high-grade trading at Merrill, confirmed the move but declined further comment.
Greco will trade corporates and credit-default swaps on the same names, according to an official. At CSFB, where he had worked for about eight months before leaving at the end of February, Greco had traded credit derivatives and reported to Joe Russell, head of high-yield trading at CSFB. Russell and Doug Ostrover, global co-head of leveraged finance at CSFB, did not return calls by press time.
