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Derivatives

Merrill Names Japan Equity Research Head

Merrill Lynch has moved Ken Chang, co-head of Asia Pacific equity derivatives research in Hong Kong, to Tokyo as the new head of Japan and Asia Pacific equity derivatives strategy. He replaces Benjamin Bowler, managing director and head of U.S. equity derivatives research in New York. Bowler relocated to the New York office to replace Steve Kim, global head of equity derivatives research, who recently moved to Credit Suisse First Boston (DW, 6/8). Chang reports to Michael Maras, global head of equity derivatives research at Merrill in London. Maras said Todd Kennedy, co-head of Asia Pacific in Hong Kong, is now head of the department reporting into Chang. Chang said he is adding an additional researcher this month to the team of four in Tokyo, but declined further comment.

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