CHASE MANHATTAN WINDOW-SHOPS AS COMPETITORS MAKE DEALS.

Pensions & Investments, February, 1999 by Sakelaris, Linda

NEW YORK -- While Chase Manhattan Corp. shops for the perfect asset management acquisition, its competitors are gaining a powerful foothold in the business. "Chase hasn't done anything close to what a Chase Manhattan could do in asset management," said Burt Greenwald, a Philadelphia-based financial services consultant.

"But they will make an acquisition down the road, although I've been saying that for two years." Critics say Chase has missed many asset management opportunities. Competitors, meanwhile, have snapped up larger properties that would have jump-started Chase's 3-year-old asset management business. Chase had $190 billion under management at year end, of which only $11.3 billion, or about 6%, was U.S. institutional tax-exempt. Nearly all of the...

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