NEW YORK, April 15 /PRNewswire/ -- Merrill Lynch Asset Management (MLAM)
today announced that it has appointed Rick Kilbride and Paul Travers as
co-managers of its bank loan portfolios, which have approximately $10 billion
of bank loan fund assets in domestic and offshore funds.
Between them, Mr. Kilbride and Mr. Travers have almost 35 years experience
in fixed income markets. Mr. Kilbride was recently a Managing Director with
Merrill Lynch Mercury and Hotchkis and Wiley, based in Los Angeles. Prior to
that, he was a Managing Director with Merrill Lynch Global Asset Management in
London.
Mr. Travers joined MLAM in 1998 having previously been Head of US
Corporate banking at BHF-BANK in New York.
The bank loan portfolio group comprises three portfolio managers and seven
analysts, and includes Gilles Marchand, an associate portfolio manager with
almost ten years of fixed income management experience.
The appointments follow the announcement that Doug Henderson is to leave
MLAM to pursue a career in sell-side fixed income. "We continue to have an
excellent team in place," said Terry Glenn, President of Merrill Lynch Asset
Management funds. "With people of the caliber of Rick and Paul overseeing the
portfolios, we will be looking to build on what is an extremely successful
group of funds. Much of that groundwork was laid by Doug and we wish him well
for the future."
MLAM manages approximately $10 billion of bank loan fund assets in
domestic and offshore funds. Its U.S. based bank loan funds are Merrill Lynch
Senior Floating Rate Fund, Inc., Merrill Lynch Senior Floating Rate Fund II,
Inc., Senior High Income Portfolio, Inc. (ARK), Debt Strategies Fund, Inc.
(DBS), Debt Strategies Fund II, Inc. (DSU), and Debt Strategies Fund III, Inc.
(DBU). These last four funds are listed on the New York Stock Exchange.
Merrill Lynch is one of the world's leading financial management and
advisory companies with offices in 41 countries and total client assets
exceeding $1.5 trillion. As an investment bank, it is the top global
underwriter and market maker of debt and equity securities and a leading
strategic advisor to corporations, governments, institutions, and individuals
worldwide. Through Merrill Lynch Asset Management and Merrill Lynch Mercury
Asset Management, the company is one of the world's largest managers of
financial assets with assets under management exceeding $500 billion.
SOURCE Merrill Lynch & Co., Inc.
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CONTACT:
Mark Johnson of Merrill Lynch, 212-449-8548
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