Merrill Lynch continues to expand its brokerage firm. Its purchase of FG Inversiones Bursatiles gives it a leading position in the origination, research, trading and distribution of Spanish equities and fixed-income securities.
There has also been the purchase of the remaining 49% of Smith Borkum Hare (South Africa), which is now a wholly owned subsidiary, and the acquisition of McIntosh Securities, a leading broker/dealer in both Australia and New Zealand. Merrill Lynch also recently entered into a joint venture in Pakistan with broker Khadim Ali Shah Bukhari.
As the bank has consistently had the highest market share of a domestic firm in the US as well as being perpetually placed in the top tier of non-domestic banks in other major markets, it perhaps comes as little surprise that Merrill Lynch has won this category yet again. Merrill is the natural first choice for banks looking for an institution with impeccable credentials in terms of market and product knowledge. The bank is uniquely placed to conduct its brokerage business at the global level.