The Trade Magazine, Jan-Mar 2009, No. 18

Like many buy-side traders, Mark Winter, head of equity dealing, Insight Investment, is adapting to a new world of fragmented liquidity and reduced reliance on capital commitment. But are his suppliers following suit?

‘Bulge bracket’, the term used to refer loosely to Wall Street’s largest and most profitable investment banks, could soon disappear from the lexicon of the securities industry. What was formerly a coveted title has been sullied by the subprime crisis, with ‘aspirants’ such as Bear Stearns purchased by J.P. Morgan and Lehman Brothers filing for bankruptcy.