Merrill Lynch head steps aside
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Merrill Lynch head steps aside
THE HEAD of global risk at Merrill Lynch, the US investment bank, is being asked to step aside following the losses that led the firm to axe 3,400 staff earlier this week. Merrill said that Daniel Napoli, 49, had asked for leave of absence after being informed that his functions were to be taken over by Richard Dunn, who is being promoted to head of global risk and credit management.
A spokesman for the firm said Mr Napoli would be offered a position elsewhere in the firm and denied he was being made a scapegoat for the firm's difficulties: "To suggest that would be wrong and unfair," he said. "He is held in high regard. Dan served for 11 years as head of risk management and with the environment changing we thought it a good time to bring a new perspective to this area."
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments