Merrill/Dresdner - Good news?

[bobsmithldn]

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]

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]

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]

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]

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!!!