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 lately met with an old volume from a London bookshop, containing the Greek Minor Poets, and it was a pleasure to read once more only the words Orpheus, Linus, Musæus,—those faint poetic sounds and echoes of a name, dying away on the ears of us modern men; and those hardly more substantial sounds, Mimnermus, Ibycus, Alcæus, Stesichorus, Menander. They lived not in vain. We can converse with these bodiless fames without reserve or personality.”
—Henry David Thoreau (1817–1862)
“Such is the art of writing as Dreiser understands it and practices it—an endless piling up of minutiae, an almost ferocious tracking down of ions, electrons and molecules, an unshakable determination to tell it all. One is amazed by the mole-like diligence of the man, and no less by his exasperating disregard for the ease of his readers.”
—H.L. (Henry Lewis)