Beat the Clock
TRADING
When Citigroup and Legg Mason decided to get out of their respective asset management and broker-dealer businesses in 2005, Stifel Nicolaus took the opportunity to jumpstart its institutional brokerage business by acquiring Legg Mason Capital Markets (LMCM) division. The only catch was that the new Stifel Nicolaus business unit only had 10 weeks to move off the legacy Legg Mason systems, which were set to become Citi systems. At the same time, Stifel Nicolaus officials decided that it was
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