Bullish on poaching; In turnabout, Merrill targets rivals' brokers.(News)

Investment News, June, 2003

Byline: Bruce Kelly After having watched rivals poach its brokers over the past couple of years, Merrill Lynch & Co. Inc. of New York is fighting back. This year, the industry's leading broker-dealer, with about 13,600 registered representatives, has formed a new plan to recruit its opponents' brokers.

Targets of Merrill's plan to build its ranks span the gamut, from other firms' top-producing brokers to newly trained registered representatives. Last month, Merrill snagged a duo from the Toledo, Ohio, branch of Salomon Smith Barney Inc. Between them, Craig Findley and Kenneth Wise produced close to $3 million in gross commissions, say industry recruiters familiar with the move. Both were with Smith Barney for close to 10 years,...

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