GLOBAL - Merrill Lynch's woes continue with news that the firm's fund management operation, Merrill Lynch Investment Managers (MLIM), suffered a 61% drop in operating earnings for the fourth quarter of 2001.
MLIM saw fourth quarter asset management pre-tax earnings of $48m, compared to $123m in Q4 2000. Net revenues were $489m, a decline of 22% on the same period the year before. MLIM’s pre-tax profit ...
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