Merrill Lynch to freeze costly recruiting bonuses for brokers

Bank of America Corp’s Merrill Lynch will stop paying the big upfront bonuses that Wall Street brokerages have long used to lure talent, ending a costly practice that did not always reap returns. The bonus freeze begins in June and will not affect brokers who have received offers, are in talks with the firm or

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via Tumblr Merrill Lynch to freeze costly recruiting bonuses for brokers