The changes underway at Merrill Lynch as the investment bank tweaks its teams following the takeover by Bank of America are likely to come out in dribs and drabs over the next few months, if not years û after all, as many as 35,000 jobs may be eliminated in the next three years as the two US banks combine.
One transition much talked about in the market regards Merrill LynchÆs head of Asia investment banking, Sheldon Trainor, who has been rumoured to have plans to set out on his own. HeÆs managing to do that û and keep his finger on Bank of AmericaÆs pulse.
Trainor plans to set up his own private equity firm...
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