Merrill Lynch

Merrill Lynch has named Paul Roy, formerly head of global equities, and Arshad Zakaria, a risk manager, as new co-heads of its investment banking arm. The pair succeed Tom Davis, who will become vice chairman of the company with responsibility for overseeing research and an expanded private equity business. Formerly, Zakarina was head of corporate risk management. Michael Marks, who ran Smith New Court, is now chairman of Merrill Lynch Investment Managers, in addition to his existing responsibilities as the head of Merrill Lynch’s Europe, Middle East and Africa operations and one of the firm’s executive vice-presidents. Kelly Martin will replace Winthrop Smith as head of international brokerage.

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