Merrill merges FX and rates

DeSa and Wittlin, both based in New York, previously managed the FX and rates teams respectively. They retain responsibility for their areas, but are now also charged with ensuring that the two groups work more closely on a strategic level to "maximise synergies" between the product lines, said the spokesperson.

The combined group covers interest rate derivatives, foreign exchange, complex FX options, commodities, US governments, municipals, tax-advantaged products, pass-through and collater