Montgomery Securities

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Montgomery Securities
Former type Investment Bank
Fate Acquired by NationsBank (predecessor of Bank of America
Predecessor(s) Robertson, Colman, Siebel & Weisel
Successor(s) Banc of America Securities
Founded 1978
Founder(s) Thom Weisel
Defunct 1997
Headquarters San Francisco, California

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.[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).

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]

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[edit]

References[edit]

  1. ^ By PETER TRUELLPublished: June 30, 1997 (1997-06-30). "Nationsbank Deal Expected For Montgomery Securities". New York Times. Retrieved 2013-12-21. 
  2. ^ April 13, 1998, 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". Bizjournals.com. 2000-09-03. Retrieved 2013-12-21. 
  4. ^ "BofA Merges with FleetBoston". Findarticles.com. Retrieved 2013-12-21. 
  5. ^ "Robertson Stephens to Close". Bizjournals.com. 2002-07-12. Retrieved 2013-12-21. 
  6. ^ [1][dead link]
  7. ^ http://securities.stanford.edu/1037/FEET00_01/