| Topic Name: |
Truly Global Investment Banks |
| Message Name: |
It depends on the ba |
| Date Posted: |
04/24/2000 |
| In Reply To: |
Do I-Banks really realize gains to scale from all these acquisitions? Is Salomon integrating Schroders with the rest of its banking practice? Merrill buys tons of small firms and brokerage offices in the U.S. and other countries, but does it really realize gains from this? For instance a few years ago it bought a small L.A. Investment manager, I went by their offices and they didn't even have the Merrill name on the door, yet Merrill bought them for a couple hundred mil. So what? Now Merill reaps their profits, and the owners get their money, but is any new value created or does ownership just change hands? |
| Message: |
It depends on the bank and its management. Deutsche killed Morgan Grenfell. Nations killed Montgomery. However, Merrill made Smith Newcourt work. Solly seems to be winning with Nikko. But, people are fleeing Schroders. It depends... on the situation and firms and people --you can't say anything that general.
|
|
