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 complaint ... about modern steel furniture, modern glass houses, modern red bars and modern streamlined trains and cars is that all these objets modernes, while adequate and amusing in themselves, tend to make the people who use them look dated. It is an honest criticism. The human race has done nothing much about changing its own appearance to conform to the form and texture of its appurtenances.”
—E.B. (Elwyn Brooks)
“To learn a vocation, you also have to learn the frauds it practices and the promises it breaks.”
—Mason Cooley (b. 1927)