Merrill Lynch has bolstered its foreign exchange franchise with the appointment of Patrick Baune from Goldman Sachs as co-head of the FX issuer client group in London.

Baune joins from Goldman, where he worked for eight years and was most recently head of the European corporate FX and derivative sales team. He joins as a managing director and will work with Robert Catalanello to manage the US bank's FX issuer client business on a global basis.