Article: Who Won, Who Lost in Merrill's FIG Shuffle Is a Matter of Debate.

Firm's goal is to try to appease a rainmaker, but staunch defections

What does a top Wall Street firm do to keep one of its biggest rainmakers and at the same time put a halt to a steady stream of defections by his subordinates?

One solution: Separate the rainmaker from his troops. At least that's the Solomon-like decision being served up by Merrill Lynch's investment banking chief, Daniel Bayly, who has recently been faced with that exact situation in Merrill's financial institutions banking group, arguably its most valuable investment banking franchise.

In an internal memorandum to all its banking professionals dated July 9, banking head ...

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