Let H m be the reproducing kernel Hilbert space with the kernel function (z, w) ∈ B×B → (1− m ∑ i=1 ziw̄i) . We show that if θ : B → L(E , E∗) is a multiplier for which the corresponding multiplication operator Mθ ∈ L(H m ⊗ E , H 2 m ⊗ E∗) has closed range, then the quotient module Hθ, given by · · · −→ H m ⊗ E Mθ −→ H m ⊗ E∗ πθ −→ Hθ −→ 0, is similar to H m ⊗F for some Hilbert space F if and on...