Adios Ahmass!

Posted by John Carney, Jan 28, 2008, 8:57am

As hard as it is to believe, the guy who ran the market risk team at Merrill Lynch from March of 2005 right into last year's Summer of Blood still has is job. In fact, Ahmass Fakahany was named co-president with Greg Fleming in May. But the dancing had to stop at some point since the music ended months ago. And this morning, Charlie Gasparino of CNBC reported that Am-Fak is set to resign later to day.

Update: Charlie G says that there are going to be more layoffs. There is a review of the brokerage business that is expected to result in job cuts. But no-one really fires brokers, you just don't pay them if they aren't earning for the firm. So these cuts will most likely be support staff folks.

0Recommend this! 5Comments
Posted in: Merrill Lynch

Comments

Posted by , Jan 28, 2008 9:47AM

I like the "Am-Fak" tag

Posted by , Jan 28, 2008 11:48AM

Risk team=best dart throwers?

Posted by merrill boy, Jan 28, 2008 1:15PM


Late better than never! Thain should clean the deck! Some of the HR personel have lurked in there for too long too. They should get the ax.

I think to purify a culture so corrupted with fraud and bigotry one has to get rid of 80% of MDs. Build it anew John.

Posted by Me, Jan 28, 2008 6:36PM

Charlie Gasparino is a hot dude!

Posted by Me, Jan 28, 2008 6:37PM

Charlie Gasparino is a hot dude!

Post Your Comment