Merrill will pay on merit
12 April 2012
MERRILL LYNCH, the blue-chip Wall Street and City merchant bank at the centre of a $100m settlement stemming from the furore over its stock research at the height of the dotcom boom, said today its research analysts will in future be paid purely on performance.
In the latest bid to put its house in order after claims that its stock market research has been tainted by its investment banking relationships with corporate clients, Merrill said: 'The new compensation system will base analysts' pay on their industry expertise and performance, how their insights and recommendations benefit investors.'
The company added: 'Investment banking will not have input into analyst compensation.'
