• 25 Jul 2008 at 9:00 AM

Morgan Stanley Poaches Merrill Brokers

By John Carney

Is Merrill Lynch coming apart at the seams? Morgan Stanley yesterday said it is poaching brokers Merrill as it expands its brokerage business. The story is a blow to Merrill Lynch chief executive John Thain, who recently described the brokerage business as one of Merrill’s strongest hopes for future growth.
Morgan’s brokerage has been run by James Gorman, Merrill’s former brokerage chief, since 2006. It seems that he’s exploiting recent troubles at Merrill stemming from credit market losses to lure away his former colleagues. Merrill’s suffering stock price has inflicted pain on brokers, many of whom hold large amounts of Merrill stock.

Comments (22)

  1. 1
    Posted by guest | July 25, 2008 at 9:24 AM

    Brokers leave firms every day for a paycheck. Means nothing.

  2. 2
    Posted by guest | July 25, 2008 at 9:27 AM

    Also heard that MER is poaching talent from J. T. Marlin.

  3. 3
    Posted by guest | July 25, 2008 at 9:41 AM

    Bess – As scintillating as this story may be, please have Carney go back to re-arranging his sock drawer and only post when there’s something noteworthy.

  4. 4
    Posted by guest | July 25, 2008 at 9:47 AM

    I heard that Lehman is poaching talent from Burger King

  5. 5
    Posted by guest | July 25, 2008 at 9:50 AM

    not news

  6. 6
    Posted by guest | July 25, 2008 at 9:50 AM

    They are also poaching from Citi, Lehman, UBS, and JPM -Bear… this isn’t huge news

  7. 7
    Posted by guest | July 25, 2008 at 9:50 AM

    They are also poaching from Citi, Lehman, UBS, and JPM -Bear… this isn’t huge news

  8. 8
    Posted by guest | July 25, 2008 at 9:55 AM

    They’re also poaching my eggs.

  9. 9
    Posted by guest | July 25, 2008 at 9:57 AM

    Mack is also investing in an rhino poaching operation in Kenya. Been a bad year for IB and he needs the horns to get his mojo back.

  10. 10
    Posted by guest | July 25, 2008 at 10:04 AM

    you mean he needs the horns to get his mayo back. mayo mayo mayo.

  11. 11
    Posted by guest | July 25, 2008 at 10:05 AM

    poached not fertilized

  12. 12
    Posted by guest | July 25, 2008 at 10:05 AM

    @8 – that’s the best play on words ever.

  13. 13
    Posted by guest | July 25, 2008 at 10:08 AM

    I heard that Burger King is poaching talent from Lehman

  14. 14
    Posted by guest | July 25, 2008 at 10:11 AM

    #2 – brilliant

  15. 15
    Posted by guest | July 25, 2008 at 10:13 AM

    Agreed, this isn’t news. Financial Advisors leave firms all the time because of guaranteed sign-ons/bonuses (which are pretty substantial).

  16. 16
    Posted by guest | July 25, 2008 at 10:14 AM

    Hearing there is a broker job fair at D’Jais this weekend.

  17. 17
    Posted by guest | July 25, 2008 at 10:18 AM

    JT Marlin has access to the discount window.
    Dimon, Geithner and Vin Diesal in talks.
    -retail

  18. 18
    Posted by guest | July 25, 2008 at 10:20 AM

    D’Jais? Staten Islanders can count?
    ~LexSteelz

  19. 19
    Posted by guest | July 25, 2008 at 10:24 AM

    Hearing Morgan Stanley is poaching their own brokers.

  20. 20
    Posted by guest | July 25, 2008 at 10:43 AM

    posters here are amusing

  21. 21
    Posted by guest | July 25, 2008 at 11:09 AM

    I heard Ben Affleck is poaching Jennifer Garner’s cooter

  22. 22
    Posted by guest | July 25, 2008 at 11:39 AM

    Garner is a beard. Ben has a perpetual bid for Matt Damon.

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