Seven executives at Citicorp soft-dollar brokerage unit Lynch, Jones & Ryan have agreed in principle to lead a management buyout of LJR. But sources say that the broker's most successful soft-dollar information service--I/B/E/S, the Institutional Brokers Estimate Service--won't be along for the ride.
The prospective split between LJR and I/B/E/S has sparked speculation that an independent LJR may find it even more difficult to build directed-commission business in an already-tough market.
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