SURVIVING THE BIG BANG
Not every merchant bank believes that piling on capital, dual capacity and trading power is the way to deal with the Big Bang. Some believe that they have niches in the market which can be developed and expanded without panic or huge expense. And the advent of highly capitalized foreign houses hardly perturbs them. Euromoney spoke to three specialist merchant banks, Baring Brothers, Lazard Brothers and J Henry Schroder Wagg. Are they prepared for what will hit them this October?
“Before the announcement of the Big Bang the merchant banks were all similar in attitude and in strategy,’ said Andrew Tuckey, a managing director of Baring Brothers.
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