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led by Arshad Zakaria, serves corporations,
financial institutions and governments with comprehensive investment banking and strategic
advisory services — including debt and equity trading, underwriting and origination,
and mergers and acquisitions. To create more value for clients and shareholders, we are
diversifying these businesses — investing in areas that complement our existing capabilities
and offer the best opportunities for future growth.
In Debt Markets, we are building on the success of record performance in 2002, gaining
further momentum through our investments in the derivatives, foreign exchange, mortgage
and credit businesses. We maintain a preeminent position in Equities — including the
world's leading secondary equities trading business. We will continue to grow our global
prime brokerage platform to attract a larger segment of the hedge fund marketplace. We
also are expanding portfolio trading, direct execution and structured derivatives capabilities,
as well as money manager services and retail correspondent clearing businesses. In
Investment Banking, we are leveraging our expertise across a broad range of industries to
provide clients with the strategic advice, guidance and tailored solutions that meet their
diverse needs.
In an environment where some institutional financial services are becoming increasingly
commoditized, our market intelligence and integrated global resources help us build deep
client relationships and consistently deliver superior client performance. GMI remains one
of the premier investment banking and capital markets operations anywhere in the world.
Looking ahead, we are committed to building an even stronger institutional franchise —
one that marshals all of Merrill Lynch's formidable resources to innovate for clients and
create sustained value for shareholders. |
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In 2002, Merrill Lynch launched MLPrimeSM — our newly enhanced prime brokerage offering. From a single access point, hedge fund clients can tap the unsurpassed range of Merrill Lynch financial services — including capital introduction, leading stock loan capabilities, risk management, innovative finance solutions, top-tier research and distribution, global equity and debt trading, and more. This offering is yet another example of how we're harnessing the global resources of Merrill Lynch to meet client needs. |
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