FINA3317 Assignment9 Ch16 Spring2016 solutions(1).pdf

FINA3317 Assignment9 Ch16 Spring2016 solutions(1).pdf -...

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Assignment 9, Chapter 16, FINA3317. due by noon on Wednesday, April 27 th . Submit your answers via Blackboard. Please give the filename as: “FINA3317Assignment9 YourLastName ”. Be sure to provide references (links or citations with page numbers for all sources of information). You may work with other students on take-home assignments, but you must turn in your own complete work and you must disclose who else you work with. This quiz is due by noon on Wednesday, April 27 th . Comparing GS, Lazard, UBS, E*trade: GS: p. 116 Advisory & Underwriting: (Investment Banking): $6,004,000 Trading: (Market Making and Principal Transactions) $9,368,000+$6,993,000 Brokerage: (Commissions and Fees) $3,255,000 Asset Management: (Investment Management) $5,194,000 Banking: (Net interest income) $3,392,000 Other: $0 Net Revenue: $34,206,000 Lazard: (p. 79) Advisory: (Investment banking and other advisory fees): $972,533 Trading: (none) $0 Brokerage: (none) $0 Asset Management: (Money Management Fees) $994,707 Banking: (Interest Income minus Interest Expense) $4,705-$79,381 Other: $92,788 Net Revenue: $1,985,352 UBS: (p. 350) (CHF) Advisory: (note 4: UW and M&A and Corporate Fees): $1,374,000+$613,000 Trading: (Net trading income) $5,130,000 Brokerage: (note 4: Brokerage Fees) $4,035,000 Asset Management: $3,803,000+$6,625,000+$485,000 (note 4: Investment Fund Fees + Portfolio Management and advisory fees + insurance fees) Banking:(Net Interest Income after credit loss expense) $5,376,000 Other: $580,000 Net Revenue: (Total Operating Income) $27,732,000
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E*trade: (p. 104) = Advisory & Underwriting: (none): $0 Trading: $72,662+ $60,591 + -2,331 (Principal transactions + Gains on Loans and Securities + net impairment) Brokerage: (Commissions and Fees and Service Charges) $420,099 + $155,050 Asset Management: (none) $0 Banking: (Net Operating Interest Income) $981,842 Other: $35,784
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