Merrill Lynch hires new head of Asian currency trading

William Shek takes up newly created position at Merrill.

Merrill Lynch has announced the appointment of William Shek as head of Asian currency trading, a newly created post as Merrill seeks to increase its foreign-exchange trading activities across the globe.

In his new position, Shek - who formerly held the same role at Goldman Sachs in Hong Kong and previously held senior trading roles at Chase Manhattan Bank - will lead a Tokyo-based team of traders who specialize in the region's currencies.

The bank also announced the appointment of two New York-based executives in its forex trading operations. David Hoffman joins Merrill Lynch from Deutsche Bank as a director and forwards trader and has more than a decade of experience in trading futures, swaps, derivatives, options, FRAs and other foreign-exchange products.

Robert Bogucki comes in as director and foreign-exchange options trader, having previously worked for seven years in the Tokyo and London offices of Morgan Stanley and Goldman Sachs.