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In a move to enhance its trading capabilities and augment its ability to market new services, the Bank of New York Co.'s (BNY), on April 22, announced its intent to acquire the New York-based commission recapture firm Lynch, Jones & Ryan (LJR).
LJR, which is touted as the industry's largest commission recapture service provider, reportedly serves 1,400 institutional clients and has over $2.2 trillion in assets.
While LJR will function as a subsidiary of BNY's brokerage unit, the union will reportedly form the foremost provider of commission recapture services, placing it in the spotlight of the gamut of institutional investors.
But not everyone seems to think so.
Greg Gilbert chief operating...