Word: kleinwort
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Dates: during 1975-1975
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...Britain's most prestigious investment banking houses, N.M. Rothschild & Sons and S.G. Warburg & Co., were barred from participating in a $20 million bond issue for Marubeni, a Japanese trading company. In a startling admission, officials of the lead bank in the deal, London's Kleinwort, Benson, Ltd., admitted that they had acceded to pressure from two other participants in the underwriting, the Libyan Arab Foreign Bank and the Kuwait Foreign Trading, Contracting and Investment Co. If Kleinwort had not given in, said its chief, Sir Cyril Kleinwort, the Arabs would have invested their money elsewhere. But other London...