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HONG KONG, Sept 4 (Reuters) - Merrill Lynch's (MER.N: ) head of Asia investment banking will step down from day-to-day responsibilities of the division and assume a new role, a source with direct knowledge of the move said on Thursday.

 

Sheldon Trainor will shift roles and become vice chairman of principle investing, the source said, which will allow him to focus more on deal-making.

 

Trainor, based in Hong Kong, will still report to Damian Chunilal, known within the bank as Merrill's head of Pacific Rim Origination. Chunilal is Merrill's investment banking head for the entire region, which includes Japan and Australia -- two countries Trainor has

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