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Is your job in peril at Merrill?

16 September 2008

Merrill Lynch has found its white knight in Bank of America, but what will the takeover mean for their staff in Singapore and in Hong Kong?

Is your job in jeopardy if you work for one of the newly weds? Or are there only minimal overlaps between the banks, making this the perfect marriage?

Headhunters say top-performing Merrill employees in Asia are ripe for the picking and should consider leaving before the merger leads to layoffs.

But with BofA’s money now supporting Merrill’s business, surely it makes more sense to stay put in the current volatile jobs market?

Should you stay, or should you go, or will Merrill lynch you before you get the chance?

Comments (11)

Obviously, those who are optimist just don't have a clue how an acquisition impacts the staff costs. Get out before it's too late.

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Comments (11)

  • While there are obviously differences in the front office between these firms, they will surely want to combine some of their operations, IT roles etc - would be crazy not to. A few cuts in Asia should be on the cards I think.

    JZ 16 Sep 2008

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  • We probably won't find out either way until next year as it will take that long for the deal to be thrashed out.

    Fog 16 Sep 2008

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  • Shouldn’t see massive layoffs in Asia office, where BA has almost no presence in IBD, Asset Mgt & Private Bank. They always want to grow this arm outside US

    AD 17 Sep 2008

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  • I am working at middle office at ML..........well......I think I dont have the choice, I can only seat tight at my current position since the market is so unstable.....I hope there wont be a huge cut in the Ops side.....especially ML is strong than BOA in its IB sector......and also due to the strong presence of ML in Asia, hope they can retain the IB staffs, no matter from Front to back office staffs........

    J 17 Sep 2008

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  • The rest of the world should stop bankrolling the America Dream for USA. As long as we are willing to feed it cheap funds with no strings attached, it continues to be in a state of denial. The real needy folks out there are those that living from hand to mouth - struggling with meagre daily sustenance.

    Alex 17 Sep 2008

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  • Most i-banking jobs in Asia will be safe - after all BoA bought ML so they could get into investment banking, right? Plus they'll want to expand globally, especially in Asia where the growth is. but those two together and your job should be safe. unless you're no good!

    Greg 17 Sep 2008

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  • Alex: "The rest of the world should stop bankrolling the America Dream for USA. As long as we are willing to feed it cheap funds with no strings attached, it continues to be in a state of denial. The real needy folks out there are those that living from hand to mouth - struggling with meagre daily sustenance."

    You're wrong, Alex. When these big banks fail, we ALL get affected.

    Outrageous 18 Sep 2008

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  • Obviously, those who are optimist just don't have a clue how an acquisition impacts the staffs costs. Get out before it's too late.

    Mr. Sterns 18 Sep 2008

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  • just a note that they are still hiring fresh grads because they can benefit on the tax breaks ...

    gg 18 Sep 2008

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  • The world around us is made up of our perceptions and assumptions which may not always be beneficial at times. For example, humans don't always necessarily do what they say and vice versa.

    Better to not be too complacent. Open your eyes and be on your toes. At the end of the day, what is your degree of significance to the success of a business as a whole?

    C.B. 20 Sep 2008

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