White-shoe shuffle: Banker to the rich, U.S. Trust stumbles after sale to Schwab

Article Abstract:

Investment firm U.S. Trust has traditionally served the very wealthy. Since its purchase by discount-broker Charles Schwab and Company Inc. in 2000, the different corporate cultures and customer relation styles of the two companies have consistently clashed. Having lost clients and fallen behind its competitors, the future for 151-year-old U.S. Trust is now uncertain .

Comment:

Investment firm U.S. Trust has traditionally served the very wealthy. Since its purchase by discount-broker Charles Schwab and Company Inc. in 2000, the different corporate cultures and customer relation styles of the two companies have consistently clashed. Having lost clients and fallen behind its competitors, the future for 151-year-old U.S. Trust is now uncertain .

United States, General services, Marketing procedures, Financial management, Management dynamics, Security brokers and dealers, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Analysis, Management, Finance, Discipline, Securities industry, Company systems management, Information management, Corporate culture, Company business management, Charles Schwab & Company Inc., Company financing, Customer relations

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Solent Capital affiliate may have to sell assets

Article Abstract:

UK firm Solent Capital Partners LLP may sell some of its assets, as its affiliate Mainsail II Ltd. has been unable to raise funds. Mainsail has approximately $2 bil in securities that are backed by assets that involve US mortgages; potential buyers are wary due to recent problems with the US mortgage market.

United Kingdom, Strategy & planning, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Planning, Economic aspects, Influence, Company business planning, Subsidiaries, divisions and units, Subprime loans, Solent Capital

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