Banking system or welfare state?
“It’s a huge challenge,” says Ronald Strauss, the president of Merrill Lynch Japan Securities, “I love it and Merrill Lynch loves it.” The task is to train the bank’s 2,100 ex-Yamaichi staff in the Merrill way. “I don’t want to say ‘indoctrinate’,” smiles Strauss. “Actually, I will say indoctrinate.”
The intake, says Strauss, is a standard bell curve in terms of ability. There is one story that a Yamaichi staffer was being shown the basics of using a PC.
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