Shake-up at Merrill Lynch

Merrill Lynch is the latest financial-services company to take steps to change things up as a result of the troubles in the mortgage market.

Late Wednesday, Merrill replaced Osman Semerci with David Sobotka as head of its fixed-income, currencies and commodities group. Semerci had run the group since July of last year.

Merrill is expected to present an ugly picture when it reports earnings on Oct. 17. Last week, a Goldman Sachs analyst forecast that Merrill would be hit by big losses from its fixed-income business, driving earnings down from the same period a year ago.

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- Posted: 2007-10-04 10:20:13

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