Internet Investment Banks Pitch Their Own Brand of Business

To raid the underwriting market, Internet investment banks may have to do more than trade on their sexy Net association.

The door to Internet underwriting already has been squeaked open by online brokers, which offer customers IPO shares through partnerships with traditional Wall Street investment banks. But new Net investment banks want to go further.

Internet banks aim to woo issuing companies with cheaper prices, the same idea behind the ultrasuccessful online brokers. Internet road shows, electronic trading and electronic information distribution can bring big savings over traditional methods, they figure. ...