Merrill Lynch is boosting its European distressed trading desk by transferring Kevin Lydon, a managing director and distressed bank loan trader, to London. Lydon will be a senior trader for distressed bank loan trading. It could not be determined when he would leave for London. Michael Lee, a v.p. and analyst on the firm's distressed debt desk, and Brandt Wilson, a Merrill Lynch director who was most recently trading distressed bonds, have been slated to fill Lydon's spot. Lydon referred calls to a spokesman. Wilson and the spokesman declined comment. Graham Goldsmith, a managing director and head of Merrill Lynch's global debt, and Lee did not return calls. Lydon will continue to report to Goldsmith. The distressed debt market in Europe is said to be attracting growing interest from U.S. investors (LMW, 5/4).
Merrill Transfers Distressed Trader To Boost Euro Desk