Utermann resigns from Merrills after 12 years

Andreas Utermann has resigned as global head of equities at Merrill Lynch Investment Managers after 12 years with the group. Utermann's resignation follows a spate of recent departures from Merrills, which has seen a host of names including Carol Galley, Jeffrey Peek and Stephen Zimmerman leave the group. Utermann's role incorporated the jobs of global head of equities and head of Europe, Africa, Middle East and Asia equities. Merrills will discontinue the global head of equities role, as it overlaps with chief investment officer, Bob Doll's role.