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intercapital.hr

About InterCapital

InterCapital is a business products & services company based out of Zagreb, Croatia.

InterCapital Headquarters Location

Masarykova 1

Zagreb,

Croatia

385 1 4825 850

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InterCapital Patents

InterCapital has filed 1 patent.

The 3 most popular patent topics include:

  • Derivatives (finance)
  • Financial markets
  • Foreign exchange market
patents chart

Application Date

Grant Date

Title

Related Topics

Status

4/7/2017

Derivatives (finance), Financial markets, Foreign exchange market, Securities (finance), Mutual fund families

Application

Application Date

4/7/2017

Grant Date

Title

Related Topics

Derivatives (finance), Financial markets, Foreign exchange market, Securities (finance), Mutual fund families

Status

Application

Latest InterCapital News

Value Investor Made Merrill Lynch a Force in Fund Management

Dec 16, 2021

December 16, 2021 - Advertisement - Arthur Zeeckl, who has died at 89, held on to longstanding fundamentals and was immune to the dot-com frenzy - Advertisement - Using a nationwide sales force and building a record of reliable performance, he made Merrill one of the nation’s leading fund managers. His operation proved to be “one of the company’s biggest success stories”, Winthrop H. Smith Jr., a former Merrill executive, wrote in the firm’s history, “Catching lightning in a bottle.” - Advertisement - By inclination and training, Mr. Ziekel was a value investor, looking to bargain on securities other investors had overlooked. This worked well for them over the long term but became a problem during the techno-stock excitement of the late 1990s. Partly because of Merrill’s caution, some of its funds fell far behind competitors over that period. In late 1997, Merrill appointed a new chairman of its asset-management business, Jeffrey Peake, to succeed Mr. Ziekel, who had been appointed as non-executive chairman of that entity. He retired in 1999. Meanwhile, Merrill brought in outsiders to try to enhance its performance. - Advertisement - By the time the crash of dot-com stocks made value investing look better, Mr. Ziekel was gone. Lonnie Stephens, who was Merrill’s vice chairman in the late 1990s, said he was “late to the game of the Internet frenzy”, but that game ended badly for many people. In 2006, Merrill sold its asset-management business to BlackRock. Inc. for BlackRock shares worth approximately $9.5 billion. Mr. Ziekel died on 7 December. He was 89 years old and had kidney disease. In 1994, a rise in interest rates caused the prices of closed-end municipal-bond funds to decline. Clients who bought those funds from Merrill were furious, and calls were pouring in from within the firm to exit that segment of the fund business. Mr. Ziekel decided that the exit would be premature. Within a year, the fund made a rapid recovery. “Zykel is sticking to his guns,” said Vincent Giordano, who oversees municipal-bond funds at Merrill. Similarly, Mr. Ziekel was reluctant to leave fund managers, as their performance had lagged for a few quarters. “People have a slow period,” he noted in a 1998 interview. “He was the best boss ever,” said Joseph Monagle Jr., who oversees bond and money-market funds. “When you went inside to see him, you would have about five minutes to make your point. He would ask sharp questions and then he would let you do your work.” In a 1994 memo on money-management basics written for one of his daughters, Jill Ziekel, Mr. Ziekel warned of turning away from current trends. “No system works all the time,” he advised. “History is a guide, not a mould.” Arthur Hermann Zieckel was born on June 1, 1932, and grew up in the Bronx. His father was an accountant, and his mother sold tickets for Broadway shows. A high school counselor advises young Arthur to attend trade school, but his mother tells him he is going to college. At City College, a professor of economics, Jerome B. Cohen became his mentor and arranged for him a job at a stockbroker, Ira Haupt & Co. In the 1960s, he worked for Dreyfus Corp, where he eventually led research and managed investments. His self-assurance inspired confidence. “People used to ask me questions, and I would answer,” he said a few years ago, discussing his early years on Wall Street. “Did they ask me if I knew what I was talking about? Probably not.” Before joining Merrill in 1976, he worked for Standard & Poor’s/Intercapital Inc. and gained more experience at Oppenheimer & Co. The stock market was weak in the late 1970s, but Americans moved large sums from savings accounts to money-market funds of late. Equity funds accumulated in the 1970s and early 1980s and again as the stock market rebounded. Merrill’s innovative cash-management accounts put the firm in a strong position to attract money from individual investors. Mr. Zeeckel made it a priority to appease Merrill’s coast-to-coast army of local brokers who sold money to their clients and wanted credibility. He excelled in entertaining and convincing the touts with witty presentations. In the initial days, his superiors gave him a lot of freedom. “If I wanted to do a new fund, I did a new fund,” he said. Later in his career, he taught finance as an assistant professor at New York University. He was the co-author of a textbook, “Investment Analysis and Portfolio Management”, among other volumes. Mr. Ziekel’s survivors include his wife of 61 years, Terri Ziekel, two daughters and seven grandchildren. A son, Jeffrey Zieckel, died in 2019. His career, Mr Ziekel said, worked out “better than anyone could have imagined”. Write James R. Hagerty at [email protected] ,

  • Where is InterCapital's headquarters?

    InterCapital's headquarters is located at Masarykova 1, Zagreb.

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