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Friday, January 10, 2003

Merrill to Bulk Up Sales Force

by: Sean Hanna, Editor in Chief

The decision by Merrill Lynch Investment Management to distribute its funds through third-parties has led it to search for new sales people. Last month, Merrill announced that it would be rebranding its Mercury Funds under the MLIM name for the push. Now it is reportedly seeking to add another 25 sales people to support the effort.

The firm currently has 15 sales reps devoted to the retail, third-party distribution channel. Six of those are external wholesalers and 9 are internal. The firm plans to add two sales directors and an equal number of internal and external wholesalers as a part of its push.

Dan Dart, chief operating officer, is overseeing the push. 

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