After appearing on "The Strategy Session" on Tuesday, Dan Cummings, head of global equity capital markets for Bank of America Merrill Lynch, continued his discussion off-camera with Kate Kelly.
"The intensity of the competition is still as fierce as its every been, there's more of an oligopoly [when a market or industry is dominated by a small number of sellers] that's formed, there's more of a critical mass that's in the business," Cummings said.
