Merill Lynch
Article Abstract:
Merrill Lynch acquired Smith new Court in 1995 for just over $800 million. Merill Lynch's share of the world market for underwriting bond and equity issues was 14% in 1995. The company reported a record profit for 1st qtr 1996, helped by Smith New Court and a strong US market. The company sees the securities industry as likely to be dominated by a few major firms with competition affecting margins. Cross border transactions are increasing so securities companies need to operate on an international level.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Gerrard and National
Article Abstract:
Gerrard and National has reported a drop in pre-tax profit of 6% for 1995 to 1996 excluding exceptional real estate charges from the previous year. Income has risen by 3% and expenses are up by 6%, some half of this due to an international expansion and the other half due to rises in salaries. GNI's options and futures business saw volumes affected by problems at Barings. Gerrard and National Ltd has performed well as has LM which is involved in equity and gilt lending.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Gerrard and National
Article Abstract:
Gerrard and National plans an all-share acquisition of King and Shaxson. Meanwhile, Gerrard and National has reported a drop in pre-tax profit for 1st half 1996 to 1997. The company's three divisions all reported a drop in profit. The merger should bring cost savings of at least 5 million pounds sterling annually after one-off expenses resulting from rationalization. The gilt repo market has yet to develop and screen trading has affected margins from money broking.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
User Contributions:
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