Merrill’s bonuses disappoint

The packages, announced on January 14, were expected to be good across the board after a reportedly successful year in FX, but amounts received varied considerably on an individual basis, said sources close to the bank.

"Most people were upset with their bonuses," said one FX recruiter in London. "They hadn’t gone down but they were fairly flat on last year’s."

"Some were very disappointed, others had their expectations met and others were pleased," said another London-based FX recruiter. "It