Monday, 23rd November 2009

 

18 February 2009 - Press Briefing

Experts see further upheaval at US brokerages

Big brokerages like Merrill Lynch, UBS and A.G. Edwards, along with a wide array of smaller wealth managers, may yet face further upheaval, likely in the form of mergers, tie-ups or division sales, experts said, according to a Reuters report.

Elizabeth Nesvold, managing partner of investment bank Silver Lane Advisors., predicted “dispositions" of some of the units, which were acquired through the major takeovers, amid the likelihood that these “will not ultimately fit".

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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”.

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