Bedfellows: Fidelity and Salomon Brothers.
Economist (US), The, January, 1997
Fidelity and Salomon Brothers have formed a three-year strategic alliance, in which Fidelity's retail brokerage will have direct access to 10% of each Salomon equity underwriting. Fidelity will woo mutual-funds customers into brokerage accounts, and Salomon will gain a distribution channel.
NEW YORK
WALL STREET'S investment bankers like to moan that Fidelity, America's biggest mutual-fund company, can make or break an offering of shares, such is its clout. The Boston-based firm, which has been troubled in the past year by successive shake-ups among its fund managers, is viewed with a mixture of awe and suspicion for its willingness to snap up large positions or shun a new issue entirely. So there were plenty of raised eyebrows on January 17th when Salomon...
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