Merrill Lynch has launched a new four-man US-European operating committee for its technology media and telecoms teams, with Bob Wigley and Paul Raphael as the new European powers among the bank's managing directors.

The new committee seeks to broaden Merrill's industry relationships in all three teams on either side of the Atlantic, in an effort to increase its mergers and acquisitions and equity and debt mandates. The technology, media and telecoms sectors will still be covered by distinct teams but Merrill wants to cross-fertilize its relationships between them.