The co-head of a Merrill Lynch division that sells derivatives has left after less than a year on the job, as chief executive John Thain continues trimming staff in MerrillâÂÂs fixed-income division.
Bloomberg has reported that Craig Lipsay left Merrill Lynch on February 1. He was hired last March from Morgan Stanley, where he had been co-head of the global collateralized debt obligations business unit. At Merrill Lynch, he was co-head of the strategic solutions group, which sells CDOs, the structured products backed by bonds and mortgages that have been battered during the credit meltdown.
