How well is Bank of America digesting the Thundering Herd of Merrill Lynch? Well, there's been no shortage of fireworks since the deal was announced, the latest of course was the surprise departure of Bob McGann as head of the retail wealth management unit.

His replacement, Dan Sontag, has a tough job ahead of him. With the entire industry tightening their belts, he was forced to announce a move to get rid of hundreds of rookie brokers--which provided a lot of broker support, frankly--and cancel trips for the higher producers, reports the New York Post. All this "was very shocking news," said one broker whose branch cut its entire staff of rookies.

For more:
- here's the article

Related Articles:
Thundering Herd news from FierceFinance