Kevin Dunleavy of Merrill Lynch will run that company's new hedge fund client initiative as well as a newly developed committee focusing on hedge funds, Reuters reports, citing a memo it obtained Friday.

Dunleavy, who has been one of the firm's best hedge fund sales executives over the past few years, will also stay in his position heading up Merrill's capital introduction department, which is dedicated to hooking would-be investors in with brokerage firms.

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