In this year's FinanceAsia fixed income research poll - published on this website last week - Merrill Lynch finished eighth. It also did so the year before. However, in the preceding four years, Merrill dominated the poll - in large part thanks to Chris Francis, who then relocated to London.
Now, as part of Merrill's overall re-evaluation of its Asian businesses, the once mighty fixed income research franchise has been pared back. In a major move made yesterday it has decided to scale back its Asian credit research team.
Team leader, Jason Carley a managing director will be relocated outside Asia, others will leave Asia too and Linda Bui will remain in Hong...
