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Another bank loses key hedge fund business puller

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Ben Weston, Chief of Merrill's hedge-fund development and management group, left the firm yesterday after two years. Weston primarily directed sales of hedge funds to clients. Merrill plans on further centralizing its hedge fund sales business, after rolling the dedicated fund of fund sales group into Weston's group last year. This follows the string of departures from IB hedge fund related divisions last week - with Bear Stearns losing Leonard Feder, co-head of prime brokerage, and Lehman losing fund of funds CIO Jin Park and senior marketing specialist Anoop Dhakad.
Dow Kim, co-president of the global markets and investment-banking group at Merrill, also left last week, to start a new investment firm.
Merrill Lynch's Ben Weston, Hedge-Fund Chief, Resigns [Bloomberg]