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The institutional business has flagged, after a contract with America's army and marines lapsed last year.
Delta's institutional business was excluded from the deal, which is expected to close before the end of the year.
Records needed to support the current business activity of a department, division, business support center, or institutional business office.
The 2005 purchase of the UK and US institutional business of Deutsche Asset Management was the deal that got Gilbert back on the road.
Under the reorganization, Mr. Forese will take on Citi's institutional business and Mr. Medina-Mora will oversee the bank's consumer business and its operations in Mexico.
In the institutional business, a fund manager typically makes about 25 basis points (hundredths of a percentage point) on equities but only 10-12 basis points on bonds.
Similar(16)
As the investor base has changed, hedge funds themselves have grown into more institutional businesses.
Peter Karches, who oversaw all of Morgan Stanley's institutional businesses, left in August.
The agency also does the brand advertising for the company's institutional businesses, which operate under the JPMorgan name.
It acquired the British and United States institutional businesses of Deutsche Asset Management in 2005 and Nationwide Financial Services in the United States beginning two years later.
In 14 years at Merrill, Mr. O'Neal has run its junk bond business and has been co-head of its institutional businesses.
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