Merrill Lynch, the Bank of America-owned wealth management business is reigniting its training programme, according to a report in the Wall Street Journal.

"We want to re-engage and really refresh what we have been so strong at in the past number of years, which is to recruit and hire trainees into our programme and give them the tools, training, and mentoring to be successful," Todd Myers, chief operating officer of Merrill Lynch US Wealth Management, said in an interview.

No details were given of the size of the Practice Management Development programme.