Merrill Lynch will reorganize its capital markets...

Merrill Lynch will reorganize its capital markets division to cut costs and tighten management of the unit in the wake of the stock market crash. The giant investment and brokerage firm said it is creating new divisions to oversee stock-related and international businesses, and realigning several existing business divisions. The firm indicated that the reorganization will give managers of the individual divisions a stronger hand in taking steps to increase profitability and trim costs where needed.