Goldman Sachs, JP Morgan Chase, Merrill Lynch, Morgan Stanley, and Lehman Brothers were the top five U.S. investment banks – that is, until recently. The 158-year-old Lehman Brothers Holdings Inc. announced that they would be filing for bankruptcy and closing their doors, while Merrill Lynch & Co., a 94-year old investment bank also based in New York, negotiated a sale to Bank of America Corp for $50 billion. The Lehman Brothers filing for bankruptcy marks the first major bank downfall since the credit crisis began. The demise of two of the top five U.S. investment banks that dominated Wall Street has taken a toll on the stock market and has created what some are calling the biggest reshaping of the financial industry since the Great Depression.
"Cortera gives our analysts powerful tools to minimize bad debt and identify previously lost revenue opportunities."
"Cortera allows us to manage our global account base on one platform, and frees us from the inconsistencies inherent in managing credit in a decentralized, paper-based environment."
