Three weeks after the Equitable Cos. announced the merger of two subsidiaries, Equitable Capital Management Group and Alliance Capital Management L.P., the strategy for bringing together the respective firms' investment management operations remains an open question.
Equitable announced the merger of the two groups last month. Under the plan, which some sources say is still under negotiation, Equitable Capital's business will be transferred to Alliance Capital. In return, the Equitable parent
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