Merrill Exodus Continues

Andrew Fisch has resigned and Peter Geike-Cobb has announced plans to retire in six months time. Including these two departures, Merrill has now lost around 16 of its 316 fund managers, analysts and traders in London since the beginning of the year.

Bloomberg reports that Merrill still has 28 stock fund managers focusing on the UK and that their investment performance is improving. Not all clients are unhappy with performance, but there is growing disquiet about the number of key defections seen in recent months.

The firm has recently introduced a new compensation plan designed to retain its fund managers. In future pay will be linked more closely to performance.