MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, October 10, 2000 Merrill Reorganizes Alternatives Units Alternative investments continue to be a hot growth area for fund companies looking to expand their business. The latest firm to jump in with both feet is Merrill Lynch. The brokerage giant said that it has established an alternatives investment group under Ron Rosenberg as a part of Merrill Lynch Investment Managers. Rosenberg, moves to MLIM from Merrill Lynch's Corporate and Institutional Client Group, where he headed Global Hedge Fund Sales and International Fixed-Income Sales since 1995. Rosenberg's group will house all of the firm's capabilities in the area, the company said. To create the service, Merrill has combined four previously separate units: Merrill Lynch Investment Partners (MLIP), ML Private Equity, MLIM Private Equity and MLIM Alternative Strategies. "By combining the talent and infrastructure embedded in these groups into one unit, we will streamline our alternative investments business to the benefit of clients," Rosenberg added. "This structure also allows us to eliminate duplicate efforts that existed in different places within Merrill Lynch, and to refocus our efforts around the teams that have enjoyed tremendous performance and client satisfaction." Rosenberg report to Jeffrey M. Peek, executive vice president of Merrill Lynch and president of Merrill Lynch Investment Managers (MLIM). The firm added that Russ Steenberg will continue to manage MLIM Private Equity, and that Roz Goldberg will continue to lead ML Private Equity. Two new appoints were also made as part of the changes. They are Fabio Savoldelli, who has been named head of the expanded Merrill Lynch Alternative Strategies Group and Steve Olgin, who joined MLIM in August, and will now serve as chief administrative officer of Alternative Investments. Printed from: MFWire.com/story.asp?s=26178 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |