Merrill Lynch's London-based head of high-yield sales, Tim Davenport, has returned to New York to head the firm's corporate derivatives marketing effort. Duncan Riefler, Davenport's second in command, will become the new high-yield sales head, according to a firm official. A junior salesperson will be added to the team, now just four-strong, says the official. In addition, Mark Barry, another high-yield salesman, will begin to cover hedge fund clients as Merrill endeavours to pitch distressed European corporate bonds to U.S.-based hedge funds and European equity funds, adds the official.
Merrill's European HY Sales Head Returns States-Side