Friday, October 19, 2012

The Corporate and Institutional Client Group

A. Pierce, at which time Merrill Lynch focused on investment banking. A lot more mergers and divestments took location throughout the twentieth century, fueling the company's growth, and the business also worked to establish itself as an innovator inside financial services industry. For example, in 1950, the business opened an Investment Data Center in Grand Central Station in New York City. During the latter half from the twentieth century, the company continued to innovate: in 1977, the business angered the banking marketplace by generating the Dollars Management Account (CMA), which permitted investors to write checks and make Visa charges against their cash market money (Parks, 2001).

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Today, Merrill Lynch is divided into three strategic business units: Corporate and Institutional Client Group (CICG), Personalized Customer Group (PCG) and Asset Management Group (AMG) (Parks, 2001).

The Corporate and Institutional Consumer Group handles the investment banking interests from the company and the mergers and acquisitions, equity and debt trading, and capital market services. Shoppers include companies and governments throughout the world. In between the services out there by CICG are derivatives as well as other currency hedges, as well as the raising of capital each through equity and debt issues.

The Private Buyer Group offers retail brokerage services, asset management, banking and insurance solutions to person investors as well as some corporate and institutional investors. The PCG firm unit has operations in 36 countries, and may be the corporation unit which has undergone arguably one of the most crucial changes in recent years. Merrill Lynch recently introduced a fee-based (as opposed to commission-based) earnings structure during the PCG unit, and has also pioneered the use with the Web to supply on-line services to its consumers around the world. Growth in this firm segment has occurred not merely in the company expanding its operations directly, but also via its acquisition of companies. During 1999, the business completed the acquisition of a Canadian brokerage program and formed a separate subsidiary specially to address the Japanese market (Parks, 2001).


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