Merrill Lynch Investment Managers (MLIM) had pre-tax earnings of $117m (€132m), although total net revenue was down 15% from $566m in the first quarter of 2001 to $480m.
Overall, Merrill Lynch reported first quarter earnings of $647m, 26% lower than the first quarter of 2001 and 32% higher than the fourth quarter of 2001 net operating earnings. (See separate story, "Merrill's cost-cutting fails to lift profits" on eFinancialNews.)
