Sunday, 22nd November 2009

 

3 July 2009 - Press Briefing

Merrill wealth chief remains upbeat over growth outlook

Merrill Lynch has begun recruiting trainees again, is launching more banking products in a phased manner and sees increased appetite among clients to invest, said Dan Sontag, chief of Merrill Lynch global wealth management, according to a report in The Charlotte Observer.

The iconic New York brokerage has recently started hiring trainees in anticipation of the market's revival. Financial advisers at Morgan Stanley Smith Barney are understood to be one of the likely poaching targets.

Read the original

Most Read

  1. Colonel Gaddafi's son buys £10m London property
  2. Lombard Odier hires from Coutts
  3. Comment: Prince William seals the ascent of hedge funds
  4. More US wealthy opt to surrender their citizenship
  5. Stanhope Capital grows staff by 50%

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

Diary: Utopia for Yacht Lovers

Looking to get more from your yacht? Why not share it with others?

More from Wealth Business

  1. Aberdeen takes control of Horlick's Bramdean
  2. KKR's deal maker and truffle hunter
  3. Stanhope Capital grows staff by 50%
  4. London & Stamford profits up but still 'cautious'
  5. Hildebrand urges stricter regulations for Swiss banks

2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU

Tel: +44 (0) 20 7309 7788

Company No 3089347