Is Shearson On The Block, Too?Leah Nathans Spiro
For months, rumors have been swirling that American Express Co. was about to put its Shearson Lehman Brothers Inc. subsidiary on the block. The move would fit with AmEx' overall strategy to beef up its balance sheet and get back to its basic card business. On Aug. 6, the speculation took on greater weight: AmEx disclosed it was trying to sell Boston Co., Shearson's private-banking and asset-management division.
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