What does the acquisition of Lehman Brothers' North American business mean for your Asia-Pacific business
For us, investment banking is all about content. Clients won't even let you in the door unless you have good content to talk about. You get one courtesy call. When you have a US investment banking business you just have so much more content to deliver to clients.
If you look at the model we had prior to the acquisition of Lehman Brothers' North America business, it was very much focused on debt capital markets and risk management we weren't providing broad advisory services. And you can't provide that service unless you have a fully-functioning US capital markets business. We...
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