Saturday, November 17, 2007

Market Research Industry Research on Investment Banks

Merrill Lynch Agrees to Exclusive Distribution Agreement With Global Media Intelligence, a Producer of Independent Research in the Media Sector
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NEW YORK, October 30, 2007 — Merrill Lynch has entered into an exclusive distribution agreement with Global Media Intelligence ("GMI"), an independent provider of leading research on the media industry. Merrill Lynch and GMI will jointly host an investors' conference about the media sector on November 13. Subjects to be analyzed at the conference will include the impact of digital delivery of content on media companies.

The objective of the agreement is to marry Merrill Lynch's award-winning, in-house research with GMI's leading data and analyses on the media industry, in order to provide Merrill Lynch's institutional clients with a unique content offering.

GMI is owned by Screen Digest, whose business — long viewed as a premier source of data, analyses and forecasts for the global media industry — was further strengthened this month by its purchase of California-based Adams Media Research. Adams is itself a leading source of independent research on the U.S. media and communications sectors.

"This partnership with GMI is a natural extension of Merrill Lynch's global commission management offering," said Michael Lynch, managing director in Global Equities at Merrill Lynch. "Our research, sales and trading professionals are uniquely positioned to identify independent research providers with specialized expertise relevant to our clients' investment processes."

"Screen Digest and GMI offer unique, high-quality data, and I am certain that this relationship will enrich our interaction with our own clients as they engage in the process of evaluating their media investments," said Jessica Reif Cohen, managing director and senior media research analyst at Merrill Lynch.

About Global Media Intelligence
Global Media Intelligence ("GMI") is a market research service designed by London-based Screen Digest and its recently acquired Carmel, California-based subsidiary Adams Media Research ("Adams") specifically for media-focused institutional investors. The GMI service is supported by over 40 specialized analysts covering TV, motion pictures, video games, mobile media, home entertainment and broadband media tracking 300-plus companies in 50-plus countries. Screen Digest and Adams have 36 years of knowledge, research, data intelligence and strategic consulting services. Through their world-renowned databases, in-depth research reports and direct analyst access service, Screen Digest and Adams will strive through the GMI service to bring customizable insights and thought-leadership to the investment decision making process.

Terez Hanhan 713.544.4085


Investment Banking Industry Profile Excerpt
SIC Codes: 6211
NAICS Codes: 52311
Page Length: 10-12

Last Quarterly Update: 9/17/2007
View Sample Industry Profile

The investment banking industry in the US is comprised of fewer than 2,000 companies, with combined annual revenue
of about $110 billion. Major companies include Morgan Stanley, Goldman Sachs, Lehman Brothers, and Bear Stearns. Investment banking is heavily concentrated: the largest 50 firms hold 90 percent of the market.


Demand is driven by economic activity that results in company mergers, acquisitions, or public financing. The profitability of an investment bank depends on its ability to accurately assess both the value of a business transaction and the readiness of the market to buy the attendant debt or equity. Big firms have an advantage because large customer transactions require firms with substantial financial resources. Small investment banks can compete by participating in syndications and operating in regional markets or specialized industries. Although labor-intensive, the industry produces very high value: average annual revenue per employee at large firms is close to $1 million.


The primary revenue sources of the investment banking industry are from the placement of new debt and equity issues with public and private investors, and the fees associated with mergers and acquisitions (M&A). Investment banks also purchase new debt and equity issues for their own accounts, acting as the market ‘maker,’ and actively trade other financial instruments. Most investment banks are active securities and currency traders and also provide asset management services for wealthy clients and retirement and investment funds. Thirty percent of industry revenue comes from merger and acquisition fees and associated stock ...

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A note in investment banking industry

top investment banks

Goldman Sachs
Morgan Stanley
JP Morgan
Credit suisse
Citi Bank
Merrill Lynch
Deutsche Bank
Lehman Brothers
Bank of America


Market Research by Goldman Sachs
May 2003

IT spending budgets are now expected to drop to minus 3.2 per cent in 2003, according to the latest quarterly survey of 100 IT decision makers by New York investment bank Goldman Sachs.

The figure is down from the bank's previous survey in February, which projected an expected growth of one per cent this year.

"Most IT buyers appear to be giving up on a second-half economic recovery and are tightening down the screws on tech spending even further," said Goldman Sachs analyst Rick Shurland.

Two thirds of the IT managers surveyed are not expecting a spending increase until 2004 or later. Those not anticipating an increase until after 2004 has almost doubled from 16 to 29 per cent since February.

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