We missed this when it came out with Merrill earnings last week, but the Goldmanization of Merrill continues.

On the top of John Thain’s “to do” list is reworking Merrill’s bonus system in less-about-you fashion, reports the FT.

“We are going to move toward a compensation system based more on how the whole company did, then on how the individual business did, then how the individual did,” the FT reported Thain as saying.

The reported overhaul brings to mind the teamwork/partnership-oriented Goldman award structure. This news also jives with Thain’s plan to get Merrill down the path of a co-operative team approach. But one anonymous banker wonders whether the method will work at Merrill, which draws talent not based on notions of teamwork but of individualism.

“It’s basically an impossible situation … Most of our businesses had very good or record years. The huge losses were created by a small number of people,” Thain told the FT.

Anyone hear specifics on any changes?