As head of Goldman, Sachs & Co.'s asset management industry group, Milton R. Berlinski is intimately acquainted with the banking industry's efforts to buy investment management expertise. The investment banker advised Mellon when it purchased Dreyfus and helped Wells Fargo in its recent sale of money management firm Wells Fargo-Nikko to London-based Barclays PLC. Last week, Mr. Berlinski sat down with investment products editor John Kimelman and talked about the environment for deals between banks and mutual fund or money management firms.

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