11.   Again, the Amex tried to supplement its lagging equity business with creativity.

12.   Already, Hambros has sold off its Australian equities business to a subsidiary of Banque Nationale de Paris for an undisclosed sum.

13.   But that is still modest in the private equity business today.

14.   BZW would give ING Barings a solid equities business in the U.K., the U.S. and Asia and an extra lift to its own corporate finance business.

15.   Dresdner said it would manage most of its major investment banking operations through Kleinwort Benson, except its German equities business.

16.   Hambros intends to expand its equity fund management business either through acquisition or joint venture, Keswick said.

17.   He said Deutsche will continue to look for ways to boost its equities business.

18.   However, CSFB does not want the European derivatives or the Australian, New Zealand and Asian equities businesses, and they are still for sale.

19.   In Australia, Greg Bundy and John Magowan, who were recently named co-chief executives of Merrill Lynch Australia, will lead the equity business.

20.   In November, Lazard named Gerald Rosenfeld head of investment banking amid speculation he might leave the firm to join Stern, who is building a private equity business.