Modern Practices
Known as “accepting and issuing houses” in the U.K. and “investment banks” in the U.S., modern merchant banks offer a wide range of activities, including issue management, portfolio management, credit syndication, acceptance credit, counsel on mergers and acquisitions, insurance, etc.
Of these two classes of merchant banks, the U.S. variant initiates loans and then sells them to investors. Even though some of these companies call themselves "merchant banks," they have few, if any, of the characteristics of former merchant banks.
Read more about this topic: Merchant Banking Private Equity Groups
Famous quotes containing the words modern and/or practices:
“Chaucer is fresh and modern still, and no dust settles on his true passages. It lightens along the line, and we are reminded that flowers have bloomed, and birds sung, and hearts beaten in England. Before the earnest gaze of the reader, the rust and moss of time gradually drop off, and the original green life is revealed. He was a homely and domestic man, and did breathe quite as modern men do.”
—Henry David Thoreau (1817–1862)
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—H.L. (Henry Lewis)