The buy-outs of Wall Street stalwarts Merrill Lynch and Lehman Brothers by Bank of America and Barclays may have been a fire sale, but they go some way towards protecting the businesses and staff of those firms. While there are certain to be redundancies, the takeovers will hopefully prevent them from reaching bloodbath proportions-even though Tabb Group predicts that the combined Bank of America and Merrill Lynch will cut between $1.5 billion and $2 billion in staff and IT spend.
Anthony and James look at developments pertaining to the Consolidated Audit Trail and wonder if big-tech companies could challenge traditional asset managers.Subscribe to Weekly Wrap emails
- Bloomberg’s Chat Gambit: The Feint Before a Knockout?
- In Capital Markets, Blockchain's Evolution Has Left the Bitcoin Model Behind
- Waters Wavelength Podcast Episode 96: CAT Concerns & Big Tech Takes Aim at Asset Managers
- WatersTechnology Innovation Summit Q&A: Elly Hardwick, Deutsche Bank
- House Approves Market Data Protection Act