Financial institutions

The regional BD has maintained a steady influx of wirehouse advisors.

Judging by day one on social media, you’d think the new Truist brand was a flop. But marketing and branding experts say the name has a lot going for it. What matters most will be how the two banks advocate for the name.

The firm said this is the first of several new teams it plans to add this summer.

The combined company will be known as Truist, which plays off “trust,” a word the banks’ original names had in common.

“When we think about these offerings, there are no hard lines that are drawn here,” said Merrill Lynch boss Andy Sieg.

Brokers “have become accustomed to this kind of deal structure,” COO Ed Swenson says.

The firm had cut back on hiring efforts in 2016, citing exorbitant costs.

"You should buy into IPOs to hold them, because you believe in the company," James Gorman said.

CEO Sergio Ermotti has resisted pressure from some investors for large-scale layoffs, opting instead for smaller cuts with less impact on morale.