MIME-Version: 1.0 Server: CERN/3.0 Date: Thursday, 18-Dec-97 12:30:27 GMT Content-Type: text/html Content-Length: 14853 Last-Modified: Thursday, 02-Oct-97 19:14:00 GMT
Previous | Section top | Home Page
Tuesday, September 30:
Bankers including Morgan's Wannemethee on Thai advisory board
A Thai business daily reported that top regional bankers
from J.P. Morgan, CS First Boston, and Goldman Sachs were asked to join the
Financial Restructuring Agency (FRA), a supervisory body created to suggest
reforms for the country's ailing financial institutions. Tira Wannemethee,
Morgan's head of investment banking in Thailand, will represent the firm on the
agency. (The Nation)
Merrill chief cites Morgan as a top private-client competitor
In a Financial Times interview, David Komanksy, Merrill Lynch's chief
executive, commented on the international private-client market, where he said
Merrill had a building effort ahead: "Citibank, J.P. Morgan, and the Swiss
banks, in certain parts of the world, have a clear significant lead on us right
now." (16)
Monday, September 29:
Morgan financial sponsors group targets Europe
A U.K. financial column profiled J.P. Morgan's efforts to expand its financial sponsors business
in Europe and worldwide. Michael Lobdell, head of Morgan's financial sponsors
group, noted, "There may actually be better opportunities in this field in
Europe than in the U.S." He emphasized Morgan's one-stop capabilities in debt
finance and research. (London Financial News 5)
Friday, September 26:
Morgan tops Euromoney poll
For the second straight year, J.P. Morgan
topped Euromoney's annual borrowers' poll as the overall favorite for
capital raising and liability management. "J.P. Morgan provides the best
service in bond syndication, private placements, and risk management," the
article noted. Morgan was also voted by peer institutions as the "most
consistently innovative" Eurobond house and was cited for its leadership in
Latin American equities and syndicated loans. (167)
Separately, Morgan's Adam Howard was named in Euromoney's roster of "top dealmakers in Asia." The article cited Morgan's role in key transactions for Telekom Malaysia, Bangkok Bank, and China Light & Power. (58)
Morgan ranked third in Euromoney "Deals of 1997" poll
J.P.
Morgan ranked third in Euromoney's selection of the "Fifty Best Deals of
1997." The feature noted J.P. Morgan's role in outstanding transactions for
the Republic of Argentina ($2 billion global bond), the Federative Republic of
Brazil ($3 billion global bond), GMAC ($1 billion global bond), the Russian
Federation ($2 billion Euro/144A bond), the Republic of Austria (5 billion-French franc
parallel bond), Norfolk Southern ($4.3 billion bond), Siemens (parallel bond),
and PacifiCorp (Stg4.5 billion syndicated loan). Euromoney also cited Morgan
and Merrill Lynch for one of 1997's worst-performing issues, a $1 billion
global bond for Bayerische Landesbank. (181)
Thursday, September 25:
Travelers-Salomon merger may spur more Wall Street M&A
activity
Several articles on the merger between Travelers and Salomon
noted that J.P. Morgan, among other financial services firms, is positioned for
similar merger activity. The Wall Street Journal noted that Morgan
reiterated its intention to maintain its current business plan. (Wall
Street Journal C1; Wall Street Journal Europe 13;
Financial Times 14; New York Times A1, D1)
Morgan's leadership on IntraLinks profiled
J.P. Morgan's loan
syndications team organized a discussion entitled "Investors, Issuers, and the
Internet," which included a demonstration of IntraLinks, an internet-based
application used to distribute loan syndication documents electronically. Over
250 investors and issuers attended. Mary Watkins, head of J.P. Morgan's loan
syndications department, said to attendees, "After using IntraLinks, even the
most paper-loving of you will find yourselves pointing and clicking your way
through syndicated loan documents." (American Banker 10)
Morgan moving Belgian bond team to London
As announced in June, J.P.
Morgan will move its Belgian government bond trading team from Brussels to
London due to deregulation. None of Morgan's other Brussels-based businesses
will move. Belgian regulators recently lifted a requirement that firms
certified as primary bond dealers conduct their government bond trading in the
nation. Deutsche Bank will conduct a similar move. (Dow Jones)
Morgan analyst lives "50 steps" from work
An article on the growth of
residential housing in New York's financial district quoted Paul Polichino of
J.P. Morgan's management services group. He is one of the first tenants of 45
Wall St., a new apartment complex in the former Atlantic Mutual building, just
down the street from Morgan's 60 Wall St. headquarters. Polichino called his
commute "about 50 steps. It takes a minute or two, depending on how long I
have to wait for the elevator." (Financial Times 6)
Wednesday, September 24:
Web-based tool to augment traditional roadshows
Net Roadshow, an
Atlanta-based company, is offering a web-based financial roadshow tool to
augment physical roadshows. J.P. Morgan investment banker Clark Spurrier said,
"The value of having a roadshow on the Internet is that it gives investors an
advance look at the company, and allows them to decide whether to look into the
company in more detail." (Wired)
Monday, September 22:
Morgan leads two top real-estate deals of the year
J.P. Morgan's sole
underwriting of a $1.5 billion credit for Sam Zell's Equity Office Properties
Trust will be the largest-ever bank facility for a real-estate company,
according to Morgan's Michael Errichetti. Morgan has fostered a long
relationship with the Chicago real-estate investment trust, which has announced
plans to acquire Beacon Properties. (Real Estate Finance &
Investment 2)
Separately, Real Estate Finance & Investment noted that Security Capital Group's successful $630 million initial public offering, lead managed by Morgan, was second only to Boston Properties' $785 million IPO among 1997 real-estate IPOs. Jon Zehner, Morgan's head of real-estate investment banking, described Security Capital as "a service company that happens to be in the real-estate business." (4)
Morgan web site praised by Corporate Finance
J.P. Morgan's
internet page was named "Website of the Month" by Corporate Finance
magazine, which praised Morgan's EMU Calculator, Value-at-Risk model, and bond
index. (17)
Sunday, September 21:
Lower minimums for Pierpont funds
Commenting on the new lower
thresholds for investing in J.P. Morgan's Pierpont funds, George Gatch of
Morgan's Asset Management unit, said "The lower minimums will broaden the
marketplace for the JPM Pierpont funds and extend their availability." (New
York Times Section 3, 7)
Saturday, September 20:
Barron's columnist compares BT and Morgan
In his column "The
Trader," equity-market reporter Andrew Bary discussed the run-up in Bankers
Trust shares last week, spurred by unconfirmed rumors that BT could be a
takeover target. Comparing BT's banking franchise to that of J.P. Morgan, Bary
wrote: "Morgan, a longtime rival of Bankers Trust, has a far better franchise,
the best name in banking, a sterling reputation, and a stock that has
underperformed its peers in recent years." (Barron's MW3)
Morgan's van Raay explains ADRs for new investors
The television
program Bloomberg Personal reported on American depositary receipts,
explaining their advantages for investors looking to expand their global
portfolio. The program featured J.P. Morgan's Eduard van Raay, who said that
with ADRs, investors new to foreign equities "don't have to hop on a plane and
go to Tokyo [to] buy Sony. You can actually call your broker ... anywhere in
the United States and buy the Sony ADR." (Bloomberg TV)
Friday, September 19:
Zell mandate shows Morgan's growth in REIT finance
J.P. Morgan's push
into financing for real-estate investment trusts was boosted by its role in
Equity Office Property Trust's "blockbuster" acquisition of Beacon Properties
Corp., announced this week. Morgan is both acquisition advisor to Equity
Office, run by real-estate mogul Sam Zell, and sole leader on a $1.5 billion
short-term line of credit backing the acquisition. (American Banker
7)
Thursday, September 18:
Morgan makes presence felt in bank M&A
The American Banker
profiled J.P. Morgan as a leading institution in advising commercial banks,
citing the firm's recent momentum. Pointing to the NationsBank's acquisition
of Barnett, the article says J.P. Morgan made its presence felt in turf
traditionally dominated by long-standing Wall Street investment banks.
Morgan's Edward Kelly and Gail Rogers were interviewed. (26)
Wednesday, September 17:
Euroclear seeks real-time processing
J.P. Morgan's Euroclear is
working with IBM subsidiary Cimad to convert securities clearing into a
real-time function by mid-1998. (L'Echo)
Monday, September 15:
Survey names Morgan top bank for EM debt and research
In an Emerging
Markets Investor magazine survey of 1,500 dedicated emerging markets investors,
J.P. Morgan was voted best bank for debt research and best bank for debt
issues. (AP-Dow Jones)
Morgan to lead FrontierVision private placement
Rural cable company
FrontierVision Holdings is expected to sell $100 million in 10-year senior
discount notes in a 144A private placement through lead underwriter J.P.
Morgan. (Reuters)
Morgan, NEON sign contract for real-time data product
New Era of
Networks Inc. signed a contract with J.P. Morgan to develop a technology called
Event Explode Service, which will enable real-time integration of financial
data across business units, product lines, and customers. (Dow Jones)
Friday, September 12:
Morgan cited as best-practices firm for working moms
Working
Mother magazine named J.P. Morgan as one of the 100 best companies for
working mothers in the United States. Commenting on the citation on the CNBC
television program Bull Session, Barbara Hack of Morgan's Human Resources
group said, "We're trying to be as innovative as we possibly can be to respond
to employee initiatives, to make sure we have the best practices in place, that
we attract people, retain them, and make them as productive as they can be."
Morgan index helps time Brady bond exchanges
A profile on the recent
use of Brady bond exchanges by six countries cited J.P. Morgan's Emerging
Markets debt index as the benchmark by which to judge market readiness for the
exchanges. (Wall Street Journal Europe 24)
Tuesday, September 9:
Schwab and Morgan announce agreement
Charles Schwab & Co.
announced an agreement with three top Wall Street firms to provide Schwab
customers access to equity underwritings. The firms are J.P. Morgan, Credit
Swiss First Boston, and Hambrecht & Quist. The agreements give the Wall
Street firms access to a greater array of retail investors for distribution of
equity underwritings. (Wall Street Journal C1, Financial Times
19, New York Times D1, USA Today B1)
Web survey says only "the Morgans" have worthwhile home pages
A
Treasury & Risk Management survey of Wall Street firms' websites
ranked the home pages of Morgan Stanley (three stars) and J.P. Morgan (two and
one-half stars) highest. J.P. Morgan's site was cited for its "impressive
array of indices." No other firm's site was given stars; the other surveyed
home pages, from such firms as Goldman Sachs and Salomon Brothers, were called
"deadly dull." (65)
Wednesday, September 3:
Morgan benefits from corp. restructuring wave in Germany
A
Financial Times commentary on corporate restructuring in Germany cited
J.P. Morgan among leading strategic advisors in Germany. Discussing Krupp
Hoesch's aborted takeover of Thyssen, Claus Löwe, head of Morgan's
Frankfurt office, said the "concept of the takeover has now been firmly
introduced to Germany. I'm absolutely sure there will be other examples." He
called corporate restructuring "an incredibly competitive market" for firms in
Germany. (15)
Financial sponsors a growing client base for Morgan
The American
Banker profiled Morgan's financial sponsors group, noting the firm's
success with a relatively new client base. Mike Lobdell, head of the group,
acknowledged that several firms had "been doing this for a lot longer than we
have," but the article quoted several financial sponsors who expressed
enthusiasm with Morgan's work to date, despite the firm's recent entry into the
business. (1)
Tuesday, September 2:
FASB's U.S. derivatives-accounting rules drawing fire
The Financial
Accounting Standards Board's draft of U.S. standards for derivatives accounting
are drawing fire from banks, corporations, and Federal Reserve Chairman Alan
Greenspan. J.P. Morgan was among several financial firms that expressed
concern about the impact the rules would have on firms' ability to manage risk;
the firms say the board should have delayed issuing its proposal. (New York
Times D1)
Previous | Section top | Home Page