Thomas Weisel Partners
Encyclopedia
Thomas Weisel Partners Group, Inc. , also known as TWP or Weisel, is a U.S. growth focused investment banking
firm based in San Francisco, California
.
The firm was launched in January 1999 by Thom Weisel and other personnel from the former Montgomery Securities. In 1997, Thom Weisel
helped to orchestrate a $1.3 billion acquisition of Montgomery Securities by NationsBank
. The following year, however, NationsBank acquired BankAmerica Corp, which itself had acquired Technology-based rival Robertson Stephens
. A culture clash and fight for control ensued at the newly combined investment banking units of what is now known as Banc of America Securities
. In the process, senior bankers from Montgomery Securities secured backing from the Silicon Valley
Venture Capital
community and left to form their own venture: Thomas Weisel Partners.
Thomas Weisel Partners, heavily focused on technology, prospered during the dot-com rise that peaked in its early years. The firm, however, hit turbulent times as technology saw a tremendous downturn. Bolstered by diversification into areas such as healthcare and consumer products, however, the firm survived and continued to operate independently. In search of additional capital, the firm made its debut on the NASDAQ
on February 2, 2006 under the symbol TWPG.
Following its acquisition of Westwind Partners that closed on January 2, 2008, the firm now offers a broad coverage platform across technology, media, healthcare, consumer products, energy, mining, and real estate. Equity and Debt underwriting and Merger and Acquisition advisory operations are supplemented by Research, Trading, Brokerage, and Asset Management units as the firm operates a full-service investment bank. Various divisions operate out of San Francisco, New York, Toronto, London, Baltimore, Zurich, Calgary, Montreal, Boston, Chicago, Cleveland, Denver, and Portland.
In 2010, Thomas Weisel announced its acquisition by Stifel Financial
.
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
firm based in San Francisco, California
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...
.
The firm was launched in January 1999 by Thom Weisel and other personnel from the former Montgomery Securities. In 1997, 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....
helped to orchestrate a $1.3 billion acquisition of Montgomery Securities by NationsBank
NationsBank
NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. In 1998, it acquired BankAmerica to become Bank of America.-Corporate history:...
. The following year, however, NationsBank acquired BankAmerica Corp, which itself had acquired Technology-based rival Robertson Stephens
Robertson Stephens
Robertson Stephens was a San Francisco-based boutique investment bank that focused on primarily on technology companies...
. A culture clash and fight for control ensued at the newly combined investment banking units of what is now known as 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...
. In the process, senior bankers from Montgomery Securities secured backing from the Silicon Valley
Silicon Valley
Silicon Valley is a term which refers to the southern part of the San Francisco Bay Area in Northern California in the United States. The region is home to many of the world's largest technology corporations...
Venture Capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
community and left to form their own venture: Thomas Weisel Partners.
Thomas Weisel Partners, heavily focused on technology, prospered during the dot-com rise that peaked in its early years. The firm, however, hit turbulent times as technology saw a tremendous downturn. Bolstered by diversification into areas such as healthcare and consumer products, however, the firm survived and continued to operate independently. In search of additional capital, the firm made its debut on the NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
on February 2, 2006 under the symbol TWPG.
Following its acquisition of Westwind Partners that closed on January 2, 2008, the firm now offers a broad coverage platform across technology, media, healthcare, consumer products, energy, mining, and real estate. Equity and Debt underwriting and Merger and Acquisition advisory operations are supplemented by Research, Trading, Brokerage, and Asset Management units as the firm operates a full-service investment bank. Various divisions operate out of San Francisco, New York, Toronto, London, Baltimore, Zurich, Calgary, Montreal, Boston, Chicago, Cleveland, Denver, and Portland.
In 2010, Thomas Weisel announced its acquisition by Stifel Financial
Stifel Nicolaus
Stifel Nicolaus and Company, Inc., incorporated in 1923, is the largest subsidiary of Stifel Financial Corporation and is a member of Securities Investor Protection Corporation . The parent company has several subsidiaries....
.