Business Services Industry
Merrill's new bull.
Australasian Business Intelligence, July, 2002
ABIX via COMTEX) -- Merrill Lynch's reputation has been undermined by some analysts' recommendations. Its analysts have reportedly recommended Internet firms that they privately considered "crap" and one of its brokers has been suspended for a connection to the Imclone insider trading scandal. Stan O'Neal is the investment bank's future CEO and already manages the firm in practice. It remains to be seen whether his lack of broking experience will hinder his efforts at Merrill Lynch. O'Neal was quick to fire staff in the wake of the terrorist attacks on the US, reducing numbers from 72,000 to 55,000. He plans to increase the focus on wealthy clients.
Publication Date: 29 June 2002
MERRILL LYNCH AND COMPANY
INCORPORATED:
IMCLONE...
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