Lunchtime Links: "Merrill chose to make millionaires out of 700 employees"

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Even though junior bankers at Merrill are complaining of poor bonuses this year, it seems the bank stumped up for its senior staff in the days before it became one with BofA. The New York Times yesterday reported that New York state attorney general has unearthed the payment of $1m bonuses to 700 Merrill employees. Four people received a combined $120m. 20 people received more than $8m each and 53 people were paid more than $5m each. It could, however, have been worse: Merrill bankers could have received a combined $5.8bn in bonuses instead of the mere $3.2bn they ended up with.

Ken "Find some humility" Lewis. (Telegraph)

$1 salary, no bonus for Vikram. (Bloomberg)

Commerzbank's review of Dresdner bonuses is taking a little longer than expected. (Bloomberg)

Cuts coming at Unicredit. (Bloomberg)

Profits halve, but no "massive redundancies" at Schroders - just in IT. (Financial Times)

Ex-Lehman banker joins Insight Investments (Financial News)

A guide to work in far flung places. (Financial News)

Head of MS distressed debt trading resigns. (Bloomberg)

Yet another top banker joins a boutique. (Financial News)

It is no coincidence that the smaller, more-focused firms-the ones that are closer to their clients-are being flooded with resumes. (Daily Beast)

Pay bankers more than other workers because their talents are so rare? You must be joking. (Financial Times)

"Investment banks are experts in marketing career structures. But if you really think about it, it's all smoke and mirrors." (Financial Times)

Michael Moore wants banker help with his new film. (Bloomberg)

There's work on ther railways. (Telegraph)

Passive aggressive ways to rebel at work due to no bonus. (Bankersball)

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