Roscini Reorganises Emea Capital Markets at Merrill

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Byline: Shanny Basar

Dante Roscini, who became head of Merrill Lynch capital markets and financing (CM&F) for Europe, Middle East and Africa (Emea) last month, has reorganised the business by forming three coverage teams and a financial products and solutions group.At the beginning of October Roscini, the former global co-head of equity capital markets (ECM)took on his new role as part of Merrill's decision to more closely align its origination businesses across all financial products.

In September, the US investment bank separated its underwriting business from sales and trading and linked it with corporate finance to create a global capital markets and financing group led by Jeff Edwards, previously global co-head of ECM with Roscini.

Roscini said: "I don't believe in overnight revolutions. This is the first step in a voyage which will lead to true integration. Within a couple of years I would like for most of our professionals to think like CFOs (chief financial officers)."

In Europe the originators from debt and equity capital markets are divided into three coverage groups - financial institutions, corporate and the public sector - similar to the existing structure within debt capital markets (DCM). The coverage groups will be responsible for all financing origination activities for Emea clients in conjunction with relationship banking.

Roscini said: "The financing products and solutions group will bring the latest technology to bear and enable us to achieve the sharpest pricing. By bringing together our best brains under one roof we aim to give a further impulse to our product development capabilities."

Corporate finance, equity-linked origination and equity and debt derivatives is incorporated into the financial products and solutions group, responsible for creating the most effective capital structures for the bank's clients, managing balance sheet risk and obtaining the most attractive financing terms in capital raising and monetisations. …