'Darwinian economics' predicted to mean big changes in financial services
January 2 - MarketWatch - Merger-and-acquisition activity in the financial-services business will remain strong this year as the credit crunch creates opportunities for strong companies to bolster their market share, investment bank Freeman & Co. said Wednesday.
Disruptions caused by the meltdown in subprime mortgages will likely encourage private-equity and hedge funds to increase investments in financial services, hoping to pick up bargains, the New York-based investment boutique explained.
Indeed, buyout giant Carlyle Group is hunting for deals in the sector and in July hired Edward Kelly the former chief executive of Mercantile Bankshares, to run a new 10-person team focused on prospective financial-services transactions, according to a Wall Street Journal report. Read More.
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