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Best Equity House: Bank of America Merrill Lynch |
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Also nominated: Goldman Sachs and Deutsche Bank |
One year ago, investors, bankers and issuers in the equity capital markets were engaged in an intense and unusually public debate about how to fix the broken mechanism for initial public offerings, after so many had failed, been pulled or left investors nursing losses in 2011.
Then the worst thing possible happened. Market risk aversion completely closed the capital markets and a valuable debate petered out.
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