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:
“The opera isn’t over till the fat lady sings.”
—Anonymous.
A modern proverb along the lines of “don’t count your chickens before they’re hatched.” This form of words has no precise origin, though both Bartlett’s Familiar Quotations (16th ed., 1992)
“To learn a vocation, you also have to learn the frauds it practices and the promises it breaks.”
—Mason Cooley (b. 1927)