Chris Jolly, the senior Merrill Lynch investment banker, has left following a restructuring in the wake of its takeover by Bank of America.

He left the newly-merged bank last week having spent a year focusing on the UK for Merrills' European real estate investment banking team.

Prior to Joining Merrills, he had been joint managing director of the corporate finance team at Jones Lang Lasalle and also head of Commerzbank’s London office.

David Church, was promoted to head of European real estate, gaming and lodging shortly before Christmas, and has three managing directors; Simon Hampton, Richard Liao and Cari Pitkin working under him.

It is understood that the restructuring process is continuing at more a junior level.