Merrill Lynch: Malin current CEO Adrian Howd, a former equity analyst at Berenberg Bank, will assume the newly established role of Chief Investment Officer to concentrate on progressing the smaller, as yet unlisted companies Malin has acquired, the sources said, according to Euro News. Martin, a former Merrill Lynch banker who took over at Elan in the midst of an accounting scandal in 2003 before cleaning it up and selling it to Perrigo
for $8.6 billion a decade later, will take over the day-to-day operations of the company. Malin was set up earlier this year by executives from former Irish stock market stalwart Elan, a pharmaceuticals firm, and raised 330 million euros in one of Europe biggest biotechnology IPOs. Martin was already a director of the company and also sits on a number of boards of the firms Malin has invested in. A spokeswoman for Malin was not immediately available for comment. euronews provides breaking news articles from Reuters as a service to its readers, but does not edit the articles it publishes. Malin chairman John Given will also take on a number of executive functions in the shake up, the sources said. (news.financializer.com). As reported in the news. Tagged under Merrill Lynch, Elan topics.