Merrill boss adds ex-colleagues

Nick Crawford joins in a newly created position as managing director and co-head of global foreign exchange trading in New York. Working alongside existing London-based co-head of FX trading, Marcus Browning, he will report to Kemp, who was his boss at Morgan Stanley until April.

Also in New York, Tom Gormley joins as director and commodity trading adviser (CTA) sales dealer. He will report to Sue Evans, head of the bank's CTA desk in New York.

The third hire is Tony Sofia, who joins the bank in

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