Tuesday, September 23, 2008

How Things Have Changed....


In the span of about a week, Raymond James leapt from being the fourth-largest investment banking operation to the largest in terms of market capitalization, even though at $4.58 billion, it is dwarfed by the former bulge-bracket firms that have now completed the 75-year-plus journey from commercial bank, to investment bank, to commercial bank again.

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