Broker ranks have been culled for underperformers, and last year, Mack hired James Gorman from Merrill Lynch (nyse: MER - news - people ) to lead the division's overhaul.

FORBES: Discover To Go It Alone

This week he hired Merrill Lynch veteran James Gorman James Gorman to run the retail brokerage.

FORBES: Mack Refuses To Attack

All of those problems caused Bayer's pharmaceutical division to post a small loss this quarter, says Merrill Lynch analyst James Knight.

FORBES: Bayer Faces Reality