Word: retail
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Dates: during 2000-2009
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...fortunes speak to the advantages of a simpler approach. Spain's largest bank "lends to their clients, takes deposits from their clients, and runs a network of branches," says Antonio Ramirez, analyst at investment bank Keefe, Bruyette & Woods in London. "It's quite simple, quite traditional." Focused on retail banking, with limited investment banking operations, and with a long-buoyant domestic market to lean on, Santander side-stepped the toxic assets caught up in the collapse of the U.S. sub-prime mortgage market. Enjoying "good growth at home, they were never in the need of chasing growth in these kind...
...they'd start publishing their holdings online daily to prove they don't own a lick of dubious debt issued by other embattled financial firms. And then, on Sept. 19, the Treasury Department announced a $50 billion program to insure the holdings of any money market mutual fund - retail or institutional - that pays a fee to join the new program...
...there hasn't been anything resembling a full-blown run. A lot of money flowed out of money funds for the week ending Sept. 18, but most of the redemptions were among institutional investors, says Crane. The person who can prevent it from spreading to retail investors...
...still have one; and with the same name. Merrill Lynch has nearly 17,000 financial advisors between its retail brokerage and wealth management units. That's part of what attracted Bank of America - B of A CEO Ken Lewis called it "the crown jewel of Merrill Lynch" - so chances are, your broker isn't going anywhere, and he or she will try to make sure that you don't either. B of A plans to keep the Merrill name and organization intact...
...move to Florida to run a string of branches, he reported to his new job in less than 24 hours. Through a series of purchases made by McColl, NCNB turned into NationsBank, which turned into Bank of America, which in time grew to become the nation's biggest retail bank, home loan provider and credit card issuer...