Montgomery Securities

Last updated
Montgomery Securities
Investment Bank
FateAcquired by NationsBank (predecessor of Bank of America
Predecessor Robertson, Colman, Siebel & Weisel
Successor Banc of America Securities
Founder Thom Weisel
Headquarters San Francisco, California

Montgomery Securities was an investment bank based in San Francisco, California, that specialized in high technology and health care sectors. The firm was founded in 1978 by Thom Weisel.

Thomas "Thom" Weisel is an American banker, businessman, and investor. He was one of the pioneers in the development of the high tech industry in Silicon Valley. Weisel is the founder of Montgomery Securities and later Thomas Weisel Partners.

The bank was acquired by NationsBank Corporation on June 30, 1997. [1] It competed in the same geographic region and market sectors as Robertson Stephens (acquired by BankAmerica Corporation) and Hambrecht & Quist (now part of JPMorganChase).

Robertson Stephens was a San Francisco-based boutique investment bank that focused primarily on technology companies. The firm was closed by its parent company, FleetBoston in July 2002 as a result of the collapse of the technology sector and the end of the dot-com bubble.

Hambrecht & Quist

Hambrecht & Quist (H&Q) was an investment bank based in San Francisco, California noted for its focus on the technology and Internet sectors. H&Q was founded by William Hambrecht and George Quist in California, in 1968.

The merger of BankAmerica Corporation and NationsBank Corporation, prompted NationsBank CEO Hugh McColl to propose to put the together the two investment banks, BancAmerica Robertson Stephens and NationsBanc Montgomery Securities. [2]

Hugh McColl American businessman

Hugh L. McColl Jr. is a fourth-generation banker and the former Chairman and CEO of Bank of America. Active in banking since around 1960, McColl was a driving force behind consolidating a series of progressively larger, mostly Southern banks, thrifts and financial institutions into a super-regional banking force, "the first ocean-to-ocean bank in the nation's history."

Ultimately the combination did not happen as Robertson Stephens was sold off in 1998 to FleetBoston. [3] Though, FleetBoston was later acquired by Bank of America in 2004, Robertson Stephens was closed in 2002. [4] [5]

Montgomery Securities is the predecessor of Banc of America Securities. [6] [7]

See also

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  1. PETER TRUELLPublished: June 30, 1997 (1997-06-30). "Nationsbank Deal Expected For Montgomery Securities". New York Times. Retrieved 2013-12-21.
  2. 5: 47 PM (1998-04-13). "Merger Hits 'Wall Street West'". CBS News. Retrieved 2013-12-21.
  3. "Robertson Stephens digs in - San Francisco Business Times". 2000-09-03. Retrieved 2013-12-21.
  4. "BofA Merges with FleetBoston". Retrieved 2013-12-21.
  5. "Robertson Stephens to Close". 2002-07-12. Retrieved 2013-12-21.
  6. Archived May 15, 2008, at the Wayback Machine
  7. "Archived copy". Archived from the original on 2007-06-09. Retrieved 2008-09-22.CS1 maint: archived copy as title (link)