Andreas Krause is lecturer at the University of Bath, Great Britain, teaching and researching in banking and finance. He has published a large number of journal articles and book chapters on a wide range of topics, including payment cards, the systemic risk of banks, interbank markets, and strategic default of borrowers, amongst many others.

• Selling information.- Informed intermediaries.- Independent financial advice.- Mergers & Acquisitions advisory.- Securities underwriting.- Biased analyst recommendations.- Analyst reputation.- Regulation of financial analysts.- Financial innovation.- Asset management.- Brokerage services.- Market making.- Proprietary trading.- Employment policies.- Partnerships.- The decision-making process.- Relationship banking.- Optimal investment banks.

Andreas Krause is lecturer at the University of Bath, Great Britain, teaching and researching in banking and finance. He has published a large number of journal articles and book chapters on a wide range of topics, including payment cards, the systemic risk of banks, interbank markets, and strategic default of borrowers, amongst many others.

• Selling information.- Informed intermediaries.- Independent financial advice.- Mergers & Acquisitions advisory.- Securities underwriting.- Biased analyst recommendations.- Analyst reputation.- Regulation of financial analysts.- Financial innovation.- Asset management.- Brokerage services.- Market making.- Proprietary trading.- Employment policies.- Partnerships.- The decision-making process.- Relationship banking.- Optimal investment banks.

Andreas Krause is lecturer at the University of Bath, Great Britain, teaching and researching in banking and finance. He has published a large number of journal articles and book chapters on a wide range of topics, including payment cards, the systemic risk of banks, interbank markets, and strategic default of borrowers, amongst many others.

• Selling information.- Informed intermediaries.- Independent financial advice.- Mergers & Acquisitions advisory.- Securities underwriting.- Biased analyst recommendations.- Analyst reputation.- Regulation of financial analysts.- Financial innovation.- Asset management.- Brokerage services.- Market making.- Proprietary trading.- Employment policies.- Partnerships.- The decision-making process.- Relationship banking.- Optimal investment banks.