Kevin Dunleavy’s new role will give him responsibility for the firm’s hedge fund client segmentation and strategy, identifying new revenue opportunities, and leading capital introduction efforts. Additionally, Dunleavy will chair a new Merrill operating committee focused on hedge funds, according to a Reuters report citing a memo.
Similar to Dunleavy’s role, the operating committee will cover capital and introduction, principal investing and debt, equity and foreign exchange sales. In addition, the committee will determine the amount of resources that Merrill will allocate to various hedge funds, the memo said.
“Hedge fund clients continue to grow in number and assets, and represent an important and profitable growth opportunity for our firm,” Brian Hull, head of Merrill’s Global Investor Client Group, said in the memo.
The move will not impact Dunleavy’s current capital introduction initiatives. The memo reveals Dunleavy will remain head of Merrill’s efforts in that space.