Bob Wigley, Merrill Lynch’s most senior Europe-based banker and one of the best known names in the London market, has stepped down as chairman of the US investment bank’s business in Europe, the Middle East and Africa, ahead of the completion of its merger with Bank of America.

Wigley holds several high-profile board memberships including sitting on the board of LCH.Clearnet and last week published a report for London mayor Boris Johnson on how the city can retain its position as a global financial centre.