Schwab customers to receive access to deals by CSFB

Article Abstract:

Charles Schwab & Co. customers will receive access to debt underwriting lead managed by Credit Suisse First Boston (CSFB). Schwab clients will have potential access to such fixed-income products as preferred shares, US agency debt and corporate debt. Under the agreement, Schwab will be given a preferred underwriting or selling group participation in CSFB-led primary debt offerings. The deal will also allow Charles Schwab and CSFB to go after retail investors and investment managers for a new preferred stock and debt issues.

Comment:

Will give Charles Schwab customers access to debt underwriting

Commercial Banks, Commercial Banking, Switzerland, Strategic alliances, Charles Schwab & Company Inc., Credit Suisse First Boston L.L.C., Article

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Merrill CEO's salary, bonus fell 32%

Article Abstract:

The chairman and chief executive officer (CEO) of Merrill Lynch & Co., David Komansky, suffered a 32% drop in his salary and bonus for the 1998 year. Mr. Komansky's salary decline mirrored Merrill Lynch's drop in net income. Mr. Komansky's total compensation actually rose to $11,484,175, a 2.7% increase. He earned $700,000 in salary and $4,535,321 in bonus in 1998.

Comment:

Chairman and CEO David Komansky, suffers 32% drop in salary and bonus for the 1998

Management development, Compensation and benefits, Abstract, MER, Merrill Lynch & Company Inc., Komansky, David

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Ex-CEO sentenced for insider trading

Article Abstract:

Former Keefe Bruyette and Woods Inc. CEO James J. McDermott Jr. was sentenced to eight months in prison. McDermott was convicted of giving insider tips to his mistress.

Legal issues & crime, Officials and employees, Discipline, Crime, Keefe, Bruyette & Woods Inc., Jr., James J. McDermott

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