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:
“Miss Nancy Ellicott smoked
And danced all the modern dances;
And her aunts were not quite sure how they felt about it,
But they knew that it was modern.”
—T.S. (Thomas Stearns)
“Of all reformers Mr. Sentiment is the most powerful. It is incredible the number of evil practices he has put down: it is to be feared he will soon lack subjects, and that when he has made the working classes comfortable, and got bitter beer into proper-sized pint bottles, there will be nothing left for him to do.”
—Anthony Trollope (1815–1882)