The rise and fall of the merchant bank
Author(s)
Bibliographic Information
The rise and fall of the merchant bank
Kogan Page, 1999
Available at 17 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
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  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
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  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
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  United States of America
Note
Published in association with Reuters
Bibliography: p. 542-551
Includes index
Description and Table of Contents
Description
An analysis of the demise of merchant banking, this text considers the impact of globalization on the historical banking institutions; the pace of innovation and why the securities sector was found wanting; the transformation of domestic industry into financial supermarkets; and why the UK clearing banks failed in their attempts to become international players.
Table of Contents
- Part 1 Past to pinnacle 1700-1914: merchants become bankers
- perfecting and innovating
- British houses perfect banking techniques and become critical intermediaries in financing international trade/industry
- managing risk. Part 2 1914 - present: focus of international finance from London to New York - from sterling to the dollar, growing deregulation, further innovation, eurodeposits, the eurobond market, MBOs and LBOs
- the first significant wave of consolidations and acquisitions as a result of plans for Big Bang
- client and shareholder pressure
- foreign focus on earnings per share/ROE
- second wave of M&A stripping UK merchant banks of the independence
- absorption into huge foreign financial conglomerates
- the end of two centuries of banking supremacy.
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