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Wall Street's Lions
MORGAN STANLEY, By merging in early 1997, the firms broad-
DEAN WITTER & ened product lines and strengthened retail
DISCOVER distribution. Firm is tops in new equity
CAPITAL: $33.4 billion issuance, fourth in new debt and equity
RETAIL BROKERS: 9,634 issuance. Strong M&A operation.
MERRILL LYNCH Retail powerhouse is leader in underwriting
CAPITAL: $32.5 billion debt and equity. Has made big strides in
RETAIL BROKERS: 14,000 U.S. M&A business, where it is tops for the
year to date.
SALOMON SMITH Merger brings together complementary
BARNEY HOLDINGS retail and wholesale businesses. Salomon's
CAPITAL: $27.8 billion*** strength in bonds blends with Smith
RETAIL BROKERS: 10,400 Barney's retail presence and greater equity
underwriting. Firm is a strong second to
Merrill Lynch in equity and debt underwrit-
ing. Deal expands the firm's global reach.
GOLDMAN SACHS Investment banking powerhouse is
CAPITAL: $17.7 one of the few partnerships left on
billion**** Wall Street. Strong M&A advisor has global
cachet.
*As of Aug. 31
**As of Jun. 30
***Pro forma
****Long-term borrowings and ownership equity as of Jan. 1, 1997
DATA: SECURITIES DATA CO., SECURITIES INDUSTRY ASSN.
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Updated Sept. 25, 1997 by bwwebmaster
Copyright 1997, by The McGraw-Hill Companies Inc. All rights reserved.
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