Merrill Lynch today announced that Paul Roy, 55, executive vice president and co-president of Global Markets & Investment Banking (GMI), is to leave the firm. Roy, who joined Merrill Lynch with the acquisition of Smith New Court Plc in 1995, has held a number of senior leadership positions within the firm in Europe and at a global level, and he has served on the company’s Executive Management Committee. Arshad Zakaria, executive vice president and co-president of GMI with Mr. Roy, will assume sole leadership of the GMI business.
“Leaving Merrill Lynch was not an easy decision to make, but after more than 30 years working for large corporations, I want to take the opportunity to try something new ,” says Roy . ” This also will give me the chance to spend more time in London with my young family of six children. Merrill Lynch is in very good hands under the leadership of Stan O’Neal and I have great confidence in the strong GMI management team, which will help ensure a high degree of continuity for the firm and our clients.”
Roy was head of European equities from 1995 to 1998, then headed global equities from 1998 to 2001.Before joining Merrill Lynch, he served from 1988 to 1995 with Smith New Court in a range of positions and was chief executive at the time it was acquired by Merrill Lynch. Between 1982 and 1987, he was a senior partner at Kemp Gee and Co. Following Kemp Gee’s acquisition by Citicorp Scrimgeour Vickers in 1987, Roy became managing director of Citicorp Scrimgeour Vickers. From 1974 to 1977, Mr. Roy was a partner at Morton Brothers, a London-based brokerage firm. Roy has been a member of the London Stock Exchange since 1974. He earned a bachelor of arts degree in economics (honours) from Liverpool University in 1969. He recently instituted the Paul Roy Chair of Entrepreneurship at Liverpool University’s new management school, which will officially open on 1 October 2003.