Merrill establishes FICC unit
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The bank has split the global markets business to establish a new fixed-income, currencies and commodities (FICC) unit and equities business, in a bid to streamline operations, said a spokesperson in New York.
The FICC unit is being headed by Osman Semerci in London, who takes on the role in addition to his responsibilities as co-president of EMEA Global Markets and Investment banking.
The new structure, which became effective last Tuesday (July 25), sees the FICC as a fully integrated business
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