Merrill Lynch, Morgan Stanley, UBS and Citigroup’s Smith Barney division are offering Bear Stearns brokers packages with signing bonuses worth two times annual revenue, reports The Wall Street Journal. A person who generates $1 million in annual commissions could receive $1.5 million up front and the rest over three years, according to Mindy Diamond, president of Diamond Consultants. “The brokers aren't going to get hurt,” said Mitch Vigeveno, chief executive officer of Turning Point, an executive-search firm in Safety Harbor, Florida. “They have a book of business they can move. The ones who are going to get hurt are other employees, like people in operations and marketing.”
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
Read the magazine on your mobile device
Most Viewed: Securitization
- Deutsche’s misfiring CIB a crucial factor in Commerz merger plans
- GlobalCapital European Securitization Awards 2019: The Winners
- Fannie, Freddie dealer banks sued in class action for price collusion
- Bustling ABS market lures more esoteric issuers
- Vote Now: GlobalCapital US Securitization Awards 2019
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Wells Fargo Securities||16,128.82||45||9.33%|
|4||Bank of America Merrill Lynch||15,717.90||52||9.09%|