Merrill creates role for new Asian IB head

Sheldon Trainor has left Morgan Stanley to become head of Asian investment banking at Merrill Lynch. In what is a newly created position, he will report to Damian Chunilal, the firm's respected head of Pacific Rim investment banking, who has been in the position for little over a year. Trainor's last day at Morgan Stanley was yesterday (Monday) and he starts a one-month period of gardening leave today. For the last four years, he has been an MD running the firm's highly successful …