Mergers & Buyouts Continued to Alter The Face of An Increasingly Competitive Industry
MERGER-MANIA
Consolidation in the financial industry continued at the same fast pace in 1999 that it set in 1998. The Salomon Smith Barney/Citibank merger with Travelers Group; Banque Nationale de Paris’ takeover of Paribas; Deutsche Bank’s acquisition of Bankers Trust; as well as the Union Bank of Switzerland (UBS) and Swiss Bank Corp.(SBC) merger, marked a year in which bankers-and brokers-joined forces so they could compete in the new global economy and online trading environments.
DEUTSCHE NIXES BIDDS
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