Merrill Lynch cuts some national business divisions
NEW YORK, March 29 (Reuters) - Bank of America's Merrill Lynch said it is reducing the number of business divisions it has nationwide from 10 to six and changing some of the executives leading those units, according to a memo sent to employees Wednesday.
The head of Merrill Lynch Wealth Management Andy Sieg told the firm's roughly 14,500 brokers that the move was part of an effort to "make the organization feel like a smaller, more tightly integrated firm." (Reporting By Elizabeth Dilts; Editing by David Gregorio)
