Bank loses a stalwart

MERRILL Lynch has lost veteran banker Stephen Li, a director in its debt capital markets division, a spokesman for Merrill Lynch confirmed yesterday.

Mr Li, who has been with Merrill Lynch for about 10 years, resigned last month, a Merrill Lynch spokesman said.

Mr Li could not be reached for comment, and the spokesman could not comment on whether or not Mr Li would be working elsewhere in Hong Kong's debt markets.

One banker said Mr Li wanted to spend more time with his family, and to recharge his batteries.

'Anyone who's been with Merrill Lynch for 10 years probably needs a rest,' he said.

He did not rule out a return to the Hong Kong debt market for Mr Li later this year.