Merrill Lynch senior executive leaves SAR

John McNiven, Asia co-head of investment banking and debt and equity capital markets at Merrill Lynch, and a well-known and respected figure in the world of finance, has left Hong Kong to return to his native Australia.

Mr McNiven, who has been unwell for a number of months and is not expected to be immediately replaced, is officially on sick leave.

Merrill Lynch insiders denied market rumours the departure came about as a result of a personality clash between Mr McNiven and Asia chairman Peter Clarke.

Mr McNiven began his career on the New York derivatives desk at J. P. Morgan where he completed the first Australian dollar and New Zealand dollar swaps in the 1980s.

He later moved to Merrill Lynch where he rapidly expanded the bank's European operations.

Stints in Africa and eastern Europe followed before Mr McNiven took up his position in Hong Kong.