1.   As a result, they must be supported by other, more profitable activities at brokerage firms, such as those performed by investment banking departments.

2.   Critics say analysts too often initiate coverage only when their investment banking departments are trying to solicit business.

3.   In fact, half were clients of the investment banking department at Morgan Stanley.

4.   Lehman also began rebuilding its merchant banking business, hoping to use its expertise in its research and investment banking departments as a source of new merchant banking business.

5.   One focus will be the so-called Chinese Wall that is said to separate investment banking departments from their counterparts in research but that many critics suspect has been demolished.

6.   Paine Webber officials have said Joseph Grano, president of the PaineWebber Inc. securities unit, wants to cut jobs in the investment banking department.

7.   Salomon Brothers Inc., New York, a unit of Salomon Inc., named Benjamin Waisbren a managing director heading the restructuring group of its investment banking department.

8.   States can cap the rates for issuers based in their region, but California has no such ceiling, the state banking department said.

9.   The executive is one of the six leading executives in the Bank of England banking supervision department, the Financial Times reported without releasing its source.

10.   The firm, the fifth-largest U.S. brokerage in terms of its number of brokers, needs to give its investment banking department some direction, analysts said.