With all the
talk of layoffs on Wall Street, it's a pleasure to read about efforts to
retain banking talent. That's what we found in Wenesday's Charlotte Observer, the hometown newspaper of Bank of America Corp. We've been checking the paper's Web site occasionally since news broke about BofA's $50 billion deal to buy Merrill Lynch & Co. (See
Tuesday's post on what local politicians and business boosters think of the deal.)
As the paper points out, BofA chief executive Ken Lewis is determined to keep Merrill's 15,000-strong thundering herd in the BofA corral. He plans to do that with signing bonuses, but so far, we're not sure what else. The paper looks at the possibility of poaching by wealth management and financial services firms, and touches on the cultural differences that could trip up the integration. - Suzanne Stevens
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