Montgomery Securities
Encyclopedia
Montgomery Securities was a west-coast 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
.
The bank was acquired by NationsBank Corporation on June 30, 1997. It competed in the same geographic region and market sectors as Robertson Stephens
(acquired by BankAmerica Corporation) and Hambrecht & Quist
(now part of JPMorganChase).
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.
Ultimately the combination did not happen as Robertson Stephens was sold off in 1998 to FleetBoston. Though, FleetBoston was later acquired by Bank of America in 2004, Robertson Stephens was closed in 2002.
Montgomery Securities is the predecessor of Banc of America Securities
.
San Francisco, California
San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...
, that specialized in high technology and health care sectors. The firm was founded in 1978 by Thom Weisel
Thom Weisel
Thomas "Thom" Weisel is an American banker and businessman, 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. It competed in the same geographic region and market sectors as Robertson Stephens
Robertson Stephens
Robertson Stephens was a San Francisco-based boutique investment bank that focused on primarily on technology companies...
(acquired by BankAmerica Corporation) and Hambrecht & Quist
Hambrecht & Quist
Hambrecht & Quist 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, 1968....
(now part of JPMorganChase).
The merger of BankAmerica Corporation and NationsBank Corporation, prompted NationsBank CEO Hugh McColl
Hugh McColl
Hugh L. McColl Jr. is a fourth-generation banker and the former Chairman and CEO of Bank of America. 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...
to propose to put the together the two investment banks, BancAmerica Robertson Stephens and NationsBanc Montgomery Securities.
Ultimately the combination did not happen as Robertson Stephens was sold off in 1998 to FleetBoston. Though, FleetBoston was later acquired by Bank of America in 2004, Robertson Stephens was closed in 2002.
Montgomery Securities is the predecessor of Banc of America Securities
Banc of America Securities
Banc of America Securities LLC , based in New York City, was an investment banking subsidiary of Bank of America. The firm competed in both the domestic and international equity and investment banking markets, and pursued a strategy pioneered by Citigroup that combines corporate lending with...
.