People and Business: Roll of thunder

Tuesday 23 March 1999 00:02 GMT

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DAVID KOMANSKY, chief executive officer at Merrill Lynch, has circulated a memo to all employees of the "Thundering Herd" investment bank, warning them about an upcoming article in Forbes magazine.

Mr Komansky says he and other top bods at Merrill gave interviews for the article on the investment banking sector, but he now dissociates himself from the conclusions of the piece.

All very confusing. Apparently Merrill is sensitive to the suggestion that it might be contemplating a link-up with another of the American "bulge bracket" investment banks, such as JP Morgan or a post-flotation Goldman Sachs.

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