Merrill Lynch CTO Departure Leaves Market Data In Flux

ORGANIZATION & MANAGEMENT

NEW YORK--Merrill Lynch appears to have stepped back from its attempt to create a centralized global services structure to manage IT, market data and operations. The firm dismissed Tsvi Gal, its chief technology officer (CTO) for enterprise technology systems, two weeks ago.

His departure, which comes a mere seven months after he was brought on to build a centralized global services model for the firm, prompts questions of the status of the market data group, which remains in flux, sources s