Howard Diamond Quoted
By John Aidan Byrne
Merrill Lynch’s Thundering Herd is having a huge crisis of confidence.
“That’s the rub, isn’t it? When BofA acquired Merrill, they came in and wanted bankers to sell Merrill products and Merrill advisers to sell bank products,” said industry headhunter Howard Diamond, who has recruited advisers from Merrill. “Merrill was becoming a bank-controlled firm. That was definitely the rub to the old hard-core advisers.”
