Merrill Lynch has re-jigged its Asian management team by appointing Jason Brand, the Tokyo-based head of Asia, Japan and Australia global ma...

Merrill Lynch has re-jigged its Asian management team by appointing Jason Brand, the Tokyo-based head of Asia, Japan and Australia global markets and investment banking, as Pacific Rim president and allowing regional chairman Raymundo Yu to focus on long-term strategy, according to an internal memo.

Mr Brand will expand his reach to include control of the regional private client business and Mr Yu will step back from the day-to-day running of the business, the memo said.

Damian Chunilal, Merrill’s head of investment banking for the Pacific Rim region, which includes Japan, Asia and Australia, will take on the expanded role of Pacific Rim chief operating officer, and will report to Mr Brand.

In his new role Mr Brand will report to Robert McCann, president of Merrill’s global private client business, and Greg Fleming and Dow Kim, presidents of global markets and investment banking.