Appointments: New global head of FX for Merrill Lynch
Merrill Lynch is believed to be about to unveil Harry Culham as its latest global head of foreign exchange. Culham is joining the bank from Dresdner Kleinwort, which he joined in early 2005. There he was global head of fixed income, currencies and commodities. Merrill has declined to comment but Dresdner has confirmed the departure of Culham, plus two of his colleagues.
Merrill has an almost unbelievable record in the number of global heads it has hired and fired over the past decade. However, the fact that Culham is rejoining Merrill, where until early 2002 he was head of FX trading for the Emea region before leaving for AIG, should ensure that he is under no illusions about the risks his new job entails.
It is believed that Culham will be joined by Tim Carrington, Dresdner’s head of FX options, and Christian Exshaw, its head of FX sales. Dresdner has confirmed that the two have resigned. Carrington is said to be taking up the role of global head of FX trading, and Exshaw will be global head of FX sales and e-commerce. All three will be based in London.