The Wall Street houses, the executives and analysts predict, should emerge from their difficult times as smaller and more specialized firms.

- Creating a stimulating and attractive environment for local and global investment by establishing specialized firms in research and development.

And Interpublic owns some specialized firms that can benefit our clients in direct marketing, new media and interactive advertising.

On Wednesday he said he was leaving because he wanted to return to a smaller, more specialized firm.

Often, a manager who disappointed investors at a big fund company is given a second chance at a smaller or more specialized firm.

The new fund will put Providence, led by its chief executive Jonathan Nelson, amid the nation's largest firms and make it the biggest among specialized firms.

Medical banking integrates various stakeholders (providers, payers, clearing houses, banks and specialized firms).

"My gut feeling is that many are landing at the smaller, more specialized financial firms - the boutiques."

Some specialized firms also provide temporary placements of professionals like lawyers, accountants and physicians.

Hollywood became highly vertically disintegrated, with specialized firms who only performed certain tasks such as editing, special effects, trailers etc.