Former Merrill Exec. Plays First Fiddle With Duet Group

Apr 9 2008 | 11:48am ET

Osman Semerci, Merrill Lynch's former global head of fixed income who was fired in October amidst massive write-downs in the firm's fixed-income business, has resurfaced as a partner at a London-based alternative asset manager.

Semerci has been hired as CEO of the Duet Group, where he will be responsible for building the firm’s structured products division. At the same time, founding partners Alain Schibl and Henry Gabay will focus on expanding the firm’s hedge fund and private equity businesses, respectively.

“His appointment, along with the corporate changes we are announcing, formalizes our business structure,” said Gabay. “Osman's experience will be a powerful addition to the development of Duet. On a more personal note, we have known Osman for a number of years, and he is a great fit within our business culture.”

Duet was founded in 2002 and currently manages more than $1.7 billion in private equity, hedge funds and long-only funds.

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