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Informationen zum Autor Richard Goldberg (New York, NY) is currently a Managing Director of Putnam Lovell NBF Securities Inc., a leading investment bank to the global financial services community. He is also an Adjunct Associate Professor at Columbia University's School of International & Public Affairs and is a visiting Adjunct Professor at Brandeis University's International Business School. Goldberg has advised on significant deals including the Dean Witter/Morgan Stanley merger, the UBS acquisition of PaineWebber the Herzog Heine sale to Merrill Lynch, the DLJ sale to Credit Suisse, the D.E. Shaw sale of selected businesses to KBC Bank N.V. and SunAmerica merger with AIG. He received an MBA from the Wharton School of Business at the University of Pennsylvania. Klappentext An insider's look at the changing balance of power on Wall Street A monumental battle is raging in the ever-shifting, always tumultuous world of Wall Street. The Battle for Wall Street follows the struggle for power between two giants: the sellers, traditional commercial and investment banks; and the buyers, upstart hedge funds, private equity firms, and the like. Richard Goldberg--who has spent thirty years working with financial industry leaders--gives you a detailed understanding of what is going on in this dynamic arena and the forces behind the shift of power from the old sell-side gatekeepers to the new buy-side players. The Battle for Wall Street examines the instruments of change--liquidity and financial technology--and the agents of change: hedge funds, private equity, financial entrepreneurs, endowments, exchanges, and sovereign wealth funds. Even more importantly, it outlines the strategic implications for the winners and losers. Goldberg describes all this against the dramatic backdrop of the subprime mortgage and credit crisis and the resulting capitulation of global firms such as Bear Stearns and Lehman Brothers. Goldberg's unique access to major players brings this book to life with fascinating anecdotes and stories about the financial generals who have left their mark in the battle for Wall Street. Zusammenfassung The Battle for Wall Street analyses the struggle for power between traditional financial institutions and recent upstarts empowered by significant changes in technology and access to information. These changes have allowed the near instantaneous rise of hedge funds and the recent aggressive moves by private equity firms. Inhaltsverzeichnis Acknowledgments vii Introduction: Let the Battle for Wall Street Begin ix Part One: Instruments of Change 1 Chapter 1 Sea of Liquidity 3 Chapter 2 Financial Information in a Digital Age 17 Chapter 3 Prime Brokerage Meeting Hall 37 Part Two: Agents of Change 47 Chapter 4 Hedge Funds: Buy-Side Player, Sell-Side Foe 49 Chapter 5 Private Equity: Buy-Side Player, Sell-Side Friend 67 Chapter 6 Entrepreneurs to Endowments: Buy-side Catalysts 87 Chapter 7 Exchanges: Sell-Side Voice, Buy-Side Electronics 107 Chapter 8 Sovereign Wealth Funds: Sell Side Today, Buy Side Tomorrow 123 Part Three: Implications of Change 135 Chapter 9 Sell-Side Casualties, Buy-Side Implications 137 Chapter 10 Buy-Side Casualties, Sell-Side Implications 155 Chapter 11 Regulatory Implications 171 Chapter 12 Future Implications 191 Notes 205 About the Author 235 Index 237 ...
