Sunday, 5th July 2009
Merrill Lynch has appointed Gwen Campbell as senior vice-president for investments in its San Francisco Private Banking and Investment Group, according to a report in San Francisco Chronicle.
Campbell joins Merrill from UBS Private Wealth Management Group where she held a similar title.
Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.
Donald Trump set a record when he sold a house for $95 million last year. It was, he proudly pointed out, the largest amount paid in the U.S. for a single-family home.
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