Merrill Lynch’s global head of FX sales, Christian Exshaw, has been notified that his position is at risk of redundancy and subject to a 90-day review. Exshaw moved to the bank as part of a team with Harry Culham from Dresdner, starting in January 2007. His departure – nobody in their right mind would accept the bet that he’ll be going back – marks the end of that particular adventure. Sources say that Vicenzo Galli-Zugaro’s position as head of investor client operations for EMEA is also under review.