1 year ago...
The big Institutional Investors certainly got bigger in 1998, due largely to the inertia of industry consolidation; creating a need, at the very least, to review existing systems, if not replace them entirely. What ensued was the demise of antiquated, often proprietary systems in favor of new, usually off-the-shelf platforms. The year commenced with Union Bank of Switzerland’s merger with Swiss Bank and ended with Deutsche Bank’s purchase of Bankers Trust (January 4, 1999).
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