Merrill ousts European debt derivatives head Chattwell

Merrill Lynch has ousted its European head of fixed income and foreign exchange derivatives, Kevin Chattwell, as part of the US investment bank’s efforts to flatten its senior management structure.

Chattwell’s departure closely follows the resignation of TJ Lim as Merrill Lynch’s head of European debt markets in May. Lim and Chattwell both previously worked together at Dresdner Kleinwort Wasserstein and joined Merrill Lynch within months of each other. Lim brought a number of specialists to Merrill Lynch, including George Handjinicolaou in forex, who quit the firm earlier this year.

Lim was replaced by Harry Lengfield, a long-time Merrill Lynch employee, who is also chief operating officer of the firm’s global debt markets. Chattwell’s fixed-income responsibilities will be assumed by David Gu, Merrill Lynch’s Europe, Middle East and Africa head of swaps and complex interest rate options. Chris Vogelgesang, the firm’s global head of complex foreign exchange options, will take on his forex duties.