'If you don't have a good working relationship or if your cultures don't match, it's going to be a pretty painful ride'

Month in Numbers

28.5

- the 2012 predicted total IT spending for wealth managers in North America, Europe and Asia-Pacific, according to a recent Datamonitor report: Building a Technology Platform for the Ultimate Offering

3%

- the proportion of European trading volume currently being traded on multi-lateral trading facilities (MTFs), according to research by the Aite Group. The firm predicts that the volume could rise to 20% by 2011

$160m

- the total severance package awarded to ex-Merrill Lynch

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