Mark Cone, marketing director for Merrill Lynch's Mercury Funds, has jumped ship. The shakeup at Merrill Lynch Investment Management's LA office, resulting from the departure of portfolio manager Sarah Ketterer and several of her colleagues, has also shaken loose Mercury's top marketer.

Cone is now the chief marketing officer for Causeway Capital Management, also based in LA. He will be responsible for institutional marketing and, down the road, mutual fund marketing.

While a spokesperson for the firm emphasized that Causeway will start with its institutional business, mutual funds are clearly on the firm's to-do list.

"We plan to [start mutual funds], yes," said Ketterer.

What's happening back at Mercury?

"We have a couple of changes within our distribution arm," explained Merrill Lynch spokesperson Christine Walton. "We're still in the process of deciding who the new head will be."

In the past year, Merrill Lynch has consistently opted to reorganize rather than fill vacant positions. Given its recent history, the firm will likely promote from within rather than replace Cone. 

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