FX people moves: Bank of America Merrill Lynch suffers new G10 departure
Steve Pearson has resigned from Bank of America Merrill Lynch where he was head of G10 currency strategy. Sources say he will be joining hedge fund Element Capital Management in New York to set up its macro-economic and strategy research function.
Element has $2 billion under management and employs “a probabilistic option-based approach to express global macro views” according to insiders. Pearson’s parting appears to be amicable: Element is a customer of BofA Merrill and Pearson is working his notice to provide a smooth transition. Before BofA Merrill, Pearson was head of currency strategy and currency overlay at HBOS.