Merrill Lynch has restructured its global markets business, creating a new fixed income, currencies and commodities unit under Osman Semerci and appointing Rohit D'Souza to run equities globally.

Three senior bankers have left the bank in the reshuffle. Jeff Kronthal, head of principal investments and secured financing, Harry Lengsfield, head of interest-rate products and foreign exchange, and Doug DeMartin, head of equity and debt sales, have all moved.