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View Full Version : Merrill/Dresdner - Good news?



bobsmithldn
15th September 2008, 08:58
With ML being taken over by BOA and Dresdner by Commerzbank, I think this may bode well for IB contractors involved in the integration projects that will be required - notwithstanding the fact that many have/will be made redundant.

For example, JPM has quite a few roles related to the BS integration.

What do you think?

moorfield
15th September 2008, 09:07
No, not good news for contractors - neither of these will be hiring now. Contractors coming up for renewal will be quietly not renewed and/or offered shorter renewals until they can work out what to do with all the permies. There will be integration work to do but not immediately this will happen 12-18 mths time. Doomed. Time to start acquiring some new skills, and quickly!

BrilloPad
15th September 2008, 09:09
For example, JPM has quite a few roles related to the BS integration.


Any evidence of that? I hear they let a few go quietly last month.

aceboy
15th September 2008, 09:11
I have been working on a integration project for 9 months so far, the volume of work is immense, we are alreasy talking about project for Q1 / Q2 next year.....

bobsmithldn
15th September 2008, 09:28
I have been working on a integration project for 9 months so far, the volume of work is immense, we are alreasy talking about project for Q1 / Q2 next year.....

Exactly.

These projects are huge, and given that permies are being let go, they need contractors.

I'm looking to go back to a previous bank to help out!

Yippee!!!