Merrill Lynch is the corporate broking success story that everyone wants to replicate. This can clearly be seen from the fact that Morgan Stanley was not the first to decide to go shopping at Merrill for its corporate broking team.
The heads or co-heads of corporate broking at Citigroup, Deutsche Bank, DrKW, and Lehman were all lured from Merrill Lynch for what are believed to be seven-digit salaries.
Merrill quickly rebuilt its team each time and says that it might now be looking at actually expanding it above the level it was at late last April when it was raided.
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