Video Game Empire - Chapter 679

“With the acceleration of the global industrial division of labor, Asia, with its abundant human resource advantages, has begun to undertake more and more manufacturing factories. The rise of the electronics industry in Hong Kong, represented by the rise of the electronics industry in Hong Kong, is rapidly promoting the economic development of the entire region! And industrial expansion is undoubtedly A huge amount of capital is needed to promote it. As the world’s largest capital flow center, Wall Street should not ignore the huge investment opportunities contained in the rise of Asia!

As one of the leading enterprises in the Asian manufacturing industry, our Oriental Group is obliged to bring more outstanding partners in the region to the stage of the global capital market, and to better enhance the entire Asian electronics industry by attracting foreign capital. development of!

This is also the original intention of our decision to acquire Hilson Lehman Company, and use this as a fulcrum to better communicate and exchange with Wall Street! As a former leader of Lehman, Mr. Peterson, I don’t know what you think of our acquisition! “

After Zhuang Yuhai talked about the investment opportunities in Asia with the Wall Street elites in front of him, he suddenly changed his style and brought the topic to the acquisition transaction of Oriental Group and Express.

“From the perspective of the purchase price, 3.5 billion US dollars is not expensive. Hilson-Lehman is worth this price!” Peterson seemed unprepared for this question, and answered after a pause.

“As far as I know, the main reason why you left Lehman was that the contradictions between the traditional investment bankers and securities traders in the company could not be reconciled! And Hilson-Lehman is the largest company of Express in just ten years. Through the acquisition of dozens of large and small companies quickly merged, the internal factional contradictions are more complicated!

Not only did American Express get rid of a tricky mess this time, but they also got back a full $3.5 billion in cash by the way, which is undoubtedly a better deal for them! For us, whether we can quickly straighten out the internal problems of Hilson-Lehman will directly determine the success or failure of our huge acquisition! “Zhuang Yuhai said with a wry smile.

“LH Group is very fortunate to have a calm decision-maker like you!” Peterson praised.

“You have won the prize. I just saw the problem clearly, but I didn’t have the ability to solve it! The new group after the merger of Hilson-Lehman and LH Fund needs a well-respected investment banker to take the helm!” Zhuang Yuhai Looking at each other with a smile.

“Haha, it seems that the headhunting company in New York has another good new business!” Peterson turned a blind eye to Zhuang Yuhai’s straight eyes, and joked with a smile.

“Currently, Hilson-Lehman’s main business can be roughly divided into four major parts: stock brokerage, asset management, fixed income bond department, and traditional investment banking business!

Among them, the stock brokerage department is mainly based on the original Hillson Company. After merging the assets of Hutton Company, it has the second largest securities retail network in the United States after Merrill Lynch! But with the advent of the Internet era, the stock brokerage business will usher in major changes!

Investors in the future can even use their home computer to browse the stock market online in real time without leaving home, and use trading software to independently buy and sell stocks! While technological progress promotes the improvement of investment decision-making efficiency, it also means that the status of traditional securities brokers begins to decline, and it also means that the commission rate of brokerage retail business will become lower!

In the future, the contribution of brokerage and retail business to the overall revenue of investment banks will become smaller and smaller, and its greatest value may only be to help companies retain huge personal investment customers!

As for the asset management department of Hilson-Lehman Company, it is mainly composed of IDS Company and Boston Company under the former Hutton Company.

Both companies sell financial planning to individual clients through the formation of various mutual funds! This should be the most valuable part of the entire Hilson-Lehman company!

As for the remaining traditional investment banking business department and fixed income department, the main body is the original Lehman Brothers! Since you and Mr. Schwarzman, the traditional investment banking business in Lehman, including corporate mergers and acquisitions, has begun to fall into a dilemma! As for the fixed income sector, it has suffered consecutive losses in recent years due to the collapse of the junk bond market!

The U.S. bond market is a huge capital circulation market that is no weaker than the stock market. Institutional investors with huge funds, such as insurance funds and pensions, regard high-rated fixed-income bonds as the largest asset in their investment portfolios. It can effectively avoid risks while realizing asset appreciation!

However, the innovation of various financial derivatives on Wall Street is endless, and even various high-risk financial assets can be subtly converted into AAA-rated bonds and sold to customers. So in my opinion, the risk of the bond market is not even lower than that of stock investment!

Looking at the recent fate of the top three investment banks in the entire Wall Street bond business, it can also reflect the problem. First Boston had just been acquired by Credit Suisse, and Solomon Brothers was being investigated by the Treasury Department. And Lehman, if not for Amex, would have gone bankrupt long ago!

After we completed the acquisition of Hilson-Lehman, the first goal we hope to achieve is to reshape the company’s competitiveness in the traditional investment banking business. At the same time, the addition of LH Fund can further enhance the comprehensive strength of the new company in the field of asset management.

As for the bond business, we hope to focus on the underwriting and issuance of sovereign bonds and corporate bonds in the future. At the same time, by controlling the proportion of self-operated junk bonds and financial asset securitization products, the overall business risk is reduced! “

Through a long speech, Zhuang Yuhai elaborated on the new business strategy that Hillson-Lehman will adopt after the acquisition.

The original Lehman Brothers, UU Kanshu www.uukanshu.com has always been the core business of traditional investment banking. But in the years when the company peaked in the early 1980s, the fixed-income debt division contributed more than two-thirds of the company’s overall profits. This has made the fixed income sector more and more ambitious, and it has begun to produce sharp conflicts of interest with the traditional investment banking sector. And Pearson, the company’s chairman and CEO, is precisely a traditional investment banker. That led Lehman’s bond traders to blame him, leading to Peterson’s ouster.

The current situation is different. The forces of the original Lehman family do not have an advantage in the merged Hilson-Lehman company. Even because of the continuous large losses in the bond business, the Lehman department has less and less right to speak. If Peterson can return to Hillson-Lehman as the person in charge, he can stage a good show of “The Return of the King”!

The conversation between Zhuang Yuhai and Peterson was not for the purpose of persuading the other party, but just to confide in him in advance so that the other party could have some psychological preparation. The one who really went out and talked to Peterson in detail must be the big boss Li Xuan himself, so as to show the greatest sincerity!

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