Merrill departures follow $10 million misallocation
NEWS
LONDON -- Three fixed-income executives at Merrill Lynch Investment Management (MLIM) have left the bank following the misallocation of approximately $10 million by one of the bank’s FX traders.
The un-named FX trader, who was part of MLIM’s FX desk in London, left the bank earlier this year. The investigations, which started in March, found the trader had conducted "unauthorised amendments and delays to the allocation of FX transactions between different client accounts" so that some clients
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