HONG KONG, Oct 10 (Reuters) - Merrill Lynch's Ashish Malhotra will head the Pacific Rim debt syndicate division at the investment bank after previous head Jack Gunn left the firm for personal reasons, a person familiar with the move said on Friday.
Malhotra, who is based in Hong Kong, previously headed debt syndicate in Asia excluding Japan, but will now cover the broader Asia-Pacific region. He will replace Gunn, a long-time veteran of Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz).
Merrill declined to comment. Gunn was not immediately available to comment.
Debt issuance from Asia in G3 currencies, or those in dollars, euros, or yen, has slumped 43.8 percent to $23.7 billion this year, the lowest year-to-date volume since 2003, according to Thomson Reuters data as of the end of the third quarter.
Bank of America (BAC.N: Quote, Profile, Research, Stock Buzz) agreed last month to buy Merrill Lynch for $50 billion to create the biggest U.S. bank. (Reporting by Rafael Nam; Editing by Tony Munroe)
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