Merrill seeks mortgage lender

Friday 12 May 2006 at 16:00

Ahmass Fakahany, chief administrative officer of Merrill Lynch, said the bank is in dialogue with mortgage companies it may buy, as building an institutional mortgage capability is a priority.

Fakahany said in an interview with Bloomberg that the bank's senior managers have spent the past six months determining how to spend Merrill's capital and have decided against buying a consumer bank.