This gives them a good platform to build on, but I don't think this is the last deal you'll see, ... You'll continue to see them building on these types of transactions.
MA is not going to be enough to carry the day for investment bankers as far as earnings go.
You have probably been hearing about how well they've done as far as integration goes, how steady and slow they've gone. The ... earnings here are really core earnings, not about ... stretching by security gains or one-time items. Their reserves are strong, the future looks strong for them.
Their earnings are coming out today. They're in the midst of merger activity, they have grown their franchise from 6 billion to 75 billion with acquisitions here in St. Louis. The ... numbers will tell us more in the next say 12 months as they fully integrate (different) franchises.
This is not a surprise. They had hinted they were going to do that that was one of the things they need to do to accomplish double-digit earnings growth. I would think Citigroup has a lot of potential to cut out some expenses when you look at all the mergers over last couple of years.
This is not a surprise. They had hinted they were going to do that that was one of the things they need to do to accomplish double-digit earnings growth, ... I would think Citigroup has a lot of potential to cut out some expenses when you look at all the mergers over last couple of years.
We think it trades at a discount. We think that it's a good opportunity, especially when we look for a good recovery into next year,
It's giving everybody an opportunity to do some spring cleaning.
The Citigroup deal did mean a lot to bankers across all types of spectrums, ... The perception is that bigger is better.
The key with Merrill is they're not as dependent on some of the venture capital private equity gains some of these companies earned earlier in the year, but have now lost.
The Y2K concern just never really came to be, ... There doesn't appear to be any slowdown. It's definitely looking like this is going to be a trend.
Also when we look at the market share that it was able to keep this year in a pretty poor environment, we think that is also key. And that the company will come out very strong given a good economic and market recovery into 2002,
It's more their diversification. The business revenue mix is not all from the IPO activity.
We have been saying for some time that a bank is not a bank, ... and I think you are will hearing more of this, you know, look back at the Fed and what they had to regulate had 10, 20 years ago, it's totally different from a bank today, with the full financial service mix of products.