Hedge Funds

Merrill Lynch promotes three to prime brokerage unit

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Merrill Lynch has promoted three executives in its prime brokerage, equity financing, and stock lending unit as part of a reorganization that will give the group a more regional focus. Howard Blechman, who had run the group since 2001 and most recently co-headed the group with recent hire Peter Donovan, will now serve as chief operating officer of the firm's broader global equity financing team, while Donovan will now serve as global head of sales. In his new role, Donovan will be responsible for new business, sales distribution, and relationship management for global equity finance, as well as