Merrill hedge fund boss branches out

Ben Weston, chief of hedge fund development at Merrill Lynch & Co. Inc., has left the company. Mr. Weston, who spent two years with the firm, will part ways with Merrill immediately, according to an internal memo, obtained by the New York Times. The note came from Rohit D’Souza, global head of the stock trading and alternative investments unit, and Mac Gardner, head of the United States private client division, the Times said. Mr. Weston’s departure is the latest executive move in a series of staff reshuffles. Last week, Dow Kim, co-head of markets and investment banking, left to set up a hedge fund. Fellow co-head of that division Greg Fleming and chief administrative officer Ahmass Fakahany were then promoted to co-presidents of the company.