Merrill Lynch Investment Managers (MLIM) has lost another director, this time from its retail arm.

Roderic Rennison has left the firm to join the new wealth management division of Charcol, the UK independent financial adviser. He was previously a director of Merrill Lynch Life, MLIM's retail division which provides retail pensions and unit linked products. It was originally part of Mercury Asset Management prior to Mercury's take-over by MLIM.