DealZone

Thundering to the exits?

September 26, 2008

    The wooing of Merrill Lynch advisers has gone viral.  Merrill’s team, the 16,000 strong “Thundering Herd” has, for the past two weeks, been in the midst of an anxiety filled waiting game regarding retention packages from Bank of America. Many are desperate to find out whether they’ll retain a sense of independence in the new configuration and just how the shotgun marriage will work in practice. Some recruiting firms are using unusual forums to profit from their misery.
Earlier this week, national recruiter RJ & Makay posted a video message specifically to Merrill advisers on YouTube, full of ego stroking, appeals to the firm’s storied history and no small amount of fear mongering.

YouTube Preview Image

The five minute video blast uses an all instrumental soundtrack which for the first 90 seconds sounds like a poor man’s Radiohead.
Naturally, the video suggests RJ & Makay is a possible and likely answer. If the difference in corporate culture, operating systems and department boundaries prove to be too burdensome, then the possible mass exit of the herd might go from possible to probable.
Merrill brokers hoping for a little escapism on the Internets look to be out of luck.

By Bob Margolis

Comments
2 comments so far | RSS Comments RSS

I have been reading this an other blogs for a while and loking at the state of things on wall street am compelled to try and do something about it in my own small way.

SO, i wanted to make an open offer to all those folks in transition that we will offer a 50% discount for the first month of our service – which is about helping people get anotehr job fast.

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Despite the stats, I see so many high paying jobs posted on employment sites –

http://www.linkedin.com (networking)
http://www.indeed.com (aggregated listings)
http://www.realmatch.com (matches you to jobs)

I see 100K, 150K and 200K jobs

Posted by Danielle | Report as abusive
 

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