Financial Services Industry
Industry: Email Alert RSS FeedThe new retail model. (retail broking by investment banks)
Banker, The, April, 1998 by Shearlock, Peter
Retail broking has suddenly become the new model of the investment banking industry. The recent spate of brokerage acquisitions includes the Morgan Stanley Dean Witter and Salomon Smith Barney tie-ups, the contract between JP Morgan and Charles Schwab, the rumored deal between Donaldson Lufkin & Jenrette and Dresdner Bank reflect this new development in investment banking. The incentives that motivate investment banks to retail broking are discussed.
Investment banks, led by the bulge bracket elite, have developed a taste for retail broking. Peter Shearlock reports that in the new investment banking model, retail is seen as the base on which other activities are built
They used to be the unsung army, the poor bloody infantry of the financial services industry. But...
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