Uncle Sam pays the price to enter Fortress Europe

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Much sighing and watery-eyes accompanies talk about Schroders' disappearance into the maws of the mi...

Much sighing and watery-eyes accompanies talk about Schroders' disappearance into the maws of the mighty SalomonSmith Barney - the last great British independent institution falls etc. etc. - as though it were a hero of Custer's last stand. Strikes me it bailed out just in time. If Mercury Asset Management, a jewel of comparable lustre, took Uncle Sam's shilling, it's a pretty clear pointer that a link to a US house is less a sell-out, than a join-up. Of course, this is not the first, and it will certainly not be the last, US incursion into the European investment management industry. It h...

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