Mark Davies is now the sole head of credit trading at Bear Stearns following the departure of Kelley Millet (CIN, 1/30). Davies will continue his role as the co-head of flow trading with Greg Hanley, according to a Bear Stearns spokeswoman.
Other responsibilities have changed hands as well. The frequent borrower business has been integrated with the government agency department run by Steve Shulman, senior managing director. The syndicate desk, headed by Chris O'Connor, will now jointly report to credit trading under Davies, and the strategic finance group. The emerging market capital markets group and high-grade debt capital markets will be going over to the strategic finance group. The asset-liability management business is going to jointly report to strategic finance and leveraged finance.