Merrill UK legal team cut by 25% after BoA merger
Merrill Lynch's UK legal team has been cut back by 25% following the bank's merger with Bank of America. The legal team learned late last month (25 February) that 15 of the 60 London lawyer positions would go following a review of the business carried out in the wake of the merger. The majority (11) of the cuts affect lawyers in Merrill's sales and trading group, which covers areas such as emerging markets, derivatives, structured credit and retail structured products.
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