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Saturday 17 May 1997 23:02 BST

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Several hundred employees in SBC Warburg's corporate finance and stock divisions in New York are expected to move to Dillon Read headquarters after the two firms merge, an SBC spokesman said.

One big issue in merging the staff will be pay. Dillon Read employees get paid a salary and bonus or sales commission, said a spokesman. SBC Warburg employees receive a portion of their pay in stock.

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