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:
“I know this, and I know it from actual experience in the Orient, that the progress of modern Christian civilization has largely depended on the earnest hard work of the Christian missions of every denomination.”
—William Howard Taft (1857–1930)
“Money made through dishonest practices will not last long.”
—Chinese proverb.