New Star's de Blonay says banking chaos could create new winners

The Bank of America buyout of Merrills and Lehmans bankruptcy will create some major winners in the f...

The Bank of America buyout of Merrills and Lehmans bankruptcy will create some major winners in the financial sector, according to New Star’s Guy de Blonay. The manager of the Financial Opportunities fund expects competitors to be in a good position to steal greater market share and fill the void Lehmans has left behind. However, he said it could spell trouble for smaller players. “Lehman’s going into administration has further deteriorated the situation in the credit markets and the likelihood is that more small and mid players will fail as they have no access to capital in order shore ...