Sunday, 8th November 2009

 

Merrill Lynch hires ultra-HNW specialists

Merrill Lynch Global Wealth Management has hired two new financial advisers to join its emerging markets team and to grow the manager's Russian and CIS ultra-high net worth business.

Alla Fedorova and Katalin Cseh will be based in London and report to Jean-Marie Duluermoz, head of emerging markets for Merrill's GWM unit.

Cseh joining from UBS, where she was responsible for the Hungarian ultra-HNW market.

Merrill would not disclose where Fedorova joined from.

Brummel

Relocation, relocation, relocation

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”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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