Merrill Internal Reports Detail Revenue Production By Broker Levels -Reuters

Date : 05/09/2012 @ 4:26PM
Source : Dow Jones News
Stock : Bank of America Corp. (BAC)
Quote : 22.71  -0.36 (-1.56%) @ 7:47PM

Merrill Internal Reports Detail Revenue Production By Broker Levels -Reuters

Bank of America (NYSE:BAC)
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Almost 46% of revenue generated by Merrill Lynch's Global Wealth Management unit last year came from 21%, or about 2,500, of its top-producing brokers, Reuters reported Wednesday, citing the brokerage's internal performance reports.

Last year, the top 2,400 brokers generated an average of $2.5 million in revenue, while those in the next 20% generated an average of $1.2 million, Reuters reported.

Merrill declined to comment, according to Reuters.

Full story at http://www.reuters.com/article/2012/05/09/us-merrill-brokers-elite-idUSBRE84817N20120509

-Dow Jones Newswires; 212-416-2900




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