Merrill Lynch has hired Michael Pringle, former head of equity derivatives flow trading at Credit Suisse, to run its equivalent operation and manage equity risk in Europe, the Middle East and Africa. His hire follows the loss of several bankers from Merrill's equity derivatives division earlier this year.

Pringle will run the bank's flow derivatives business and joins as a managing director based in London. He will report to Brent Clapacs, head of European equities.