Merrill Lynch Restructures Global Emerging Markets Forex Teams

NON-BANKS

NEW YORK--Merrill Lynch has restructured its emerging markets FX operations in a bid to streamline its capital markets business, says an official.

The move is also aimed at bolstering the firm's mainstream currency portfolio following the introduction of the euro.

The restructuring has involved the loss of a number of FX staff in London and New York, as well as the transfer of others to different divisions within the company.

In the old structure, Merrill's FX trading operation was split betwee