What Brokers Are The Banks After?
George Salem is an analyst who predicted a number of the big bank mergers. Salem is still watching the banks, but this time he sees them not as targets but as suitors. Now at New York investment bank Gerard Klauer Mattison, Salem says many commercial banks have investment banks and brokerages "high on their acquisition lists." Banks must move quickly or risk being shut out of this line of business, especially the booming market for initial public offerings.
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