More FX turmoil at Merrill Lynch
Interesting question, because it seems that anyone who signs up to this particular Faustian bargain must know that they’ll only last two years in the job, going by recent history. So Merrill has to pay up. And the more it maintains a hire and fire strategy, the more it will cost to build an FX business.
However, talking to one of its many former global heads, it seems that it’s not just money that lures people to the job.
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