Merrill Lynch recently hired John Greco, a credit trader, from Credit Suisse First Boston, according to Tom McCreary, head of high-grade trading at Merrill. He says Greco will start at Merrill in about a month and declined further comment. Greco will trade corporates and credit-default swaps on the same names, according to one official familiar with his plans.
At CSFB, where he had worked for about eight months before leaving at the end of Febraury, Greco traded credit derivatives and reported to Joe Russell, head of high-yield trading. A trader on the desk says Greco's position has not yet been filled. Russell and Doug Ostrover, global co-head of leveraged finance at CSFB, did not return calls by press time