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Merrill opens employee equity funds to stem dot-com defections

Published on .

Merrill Lynch & Co. has launched a series of tech-oriented private equity funds for its investment banking employees. It introduced the funds to stem employee defections to dot-coms, a development plaguing many financial companies. Merrill will invest two dollars for every dollar an employee invests in its funds. Other investment giants--Citigroup, for one--have recently begun offering perks including free gym privileges, dry cleaning pick-up and coffee bars to keep employees from bolting to Internet companies.
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