Merrill shakes up private equity executives

Why did Tom Saylak, Merrill Lynch's ex-global head of commercial real estate, leave the firm? Some assume it was related to the departure of Jeff Kronthal, who hired Saylak and was pushed out this summer in a shake up of the investment banking group. Saylak was seen as a prized hire, and he made notable progress at Merrill Lynch. For one thing, he hired six senior members of Citigroup's real estate team, including Mark Patterson, head of real estate investment banking. Also, Merrill made gains in each of the last two years in the global real estate league tables for M&A advice, commercial mortgage-backed securities underwriting and equity and other forms of debt. 

For more on these moves:
- Here's an Investment Dealers' Digest article (For FierceFinance readers)