Merrill Lynch hires head of Pacific Rim local currency trading

US investment bank Merrill Lynch has hired Stanley Zau as managing director, head of Pacific Rim local currency trading, responsible for fixed income, foreign exchange and derivatives trading in Asian local currencies.

Merrill hired Zau from Credit Agricole Indosuez, where he was head of Asian emerging markets. He will report to Dilip Thadani, head of Pacific Rim rates and foreign exchange, based in Tokyo, and Juan Del Azar, global head of emerging markets in London.

Zau's position is new and he will be based in Tokyo.