The Merchant’s Guild is a loose association of a great many fiercely competitive merchant companies, with little of the centralised leadership or control found in other guilds. Each merchant company does it’s own recruitment, and ranks of apprentice, journeyman and master tend to have different meanings from company to company. The guild even has a rank below that of Apprentice, ‘Associates’, through which the guild licences and controls street vendors and pedlars. The guild does maintain a guildhouse and guild warehouse in most cities, although larger merchant companies tend maintain their own facilities in those cities where they do a lot of business, rather than relying on guild buildings.
The Merchant’s Guild has no real equivalent to the Administration Divisions of other guilds. An informal assembly of the heads of each merchant company active in a city fills the function of resolving disputes between companies, or representing the collective interests of merchants in the broader political arena.
The Merchant’s Guild does have a very large Security Division, which supplies caravan guards, warehouse security and personal bodyguards to individual merchant companies. It’s so large and so loosely controlled that cynics suggest it’s little more than a clearing house for mercenaries, which is harsh, but possibly not completely untrue.