Linking up with Switzerland

Merrill Lynch (Bank) Suisse is the largest of Merrill's onshore international businesses, with $11.16 billion assets under management. Regarded as separate from the GPC business, the Swiss bank has been re-establishing links with it over the past two years in a bid to boost business. "While the Swiss bank wasn't making a loss, assets had settled to about $9 billion and stayed there," says Nick Stonestreet, who became CEO of the Swiss bank in July last year. "There were many things that needed addressing, such as service quality, but the most important move in the last year has been a reconnection to Merrill Lynch GPC. Before that we tended to stand alone."