Smaller_Investment_Banks

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					The following list was “donated” to the GFA by a student. Most companies below provide investment banking services, however several are geared more towards private equity, research, etc. We suggest that you consult Bloomberg to get a better idea of the volume of services these firms provide (i.e. 2003 M&A league table). Another good resource is the list of firms where the class ahead of you interned over the summer. Since the following list is not comprehensive, the GFA has included a supplemental list of investment banks at the end. Good luck. Recent updates: February 24, 2004
“I have strong contacts at a boutique investment bank in San Francisco call JMP Securities. They are very strong in financial services, real estate but also cover technology, restaurants, specialty retail, outsourcing, etc. If anyone expresses interest in talking to me about the company please feel free to contact me at jmk355@stern.nyu.edu.”

A.G. Edwards & Sons One North Jefferson Ave. St. Louis, MO 63103 (314) 955-3000 Fax: (314) 955-5402 www.agedwards.com Rapidly expanding investment banking division with niche focus in middle-market companies Typically investment banking is generalist program with possible rotations in corporate finance, mergers and acquisitions, and valuations Also substantial retail brokerage arm and employs equity and bond analysts Fast growing areas of firm include private client services, information technology and A.G. Edwards Trust Company No formal MBA Program indicated on website, but known for employee training Employment in St. Louis for investment banking and in any U.S. office for brokerage arm

Adams Harkness & Hill 60 State Street Boston, MA 02109 617-371-3900 Fax: 617-371-3793 www.ahh.com Institutional sales and trading, OTC trading, arbitrage trading Equity research Investment banking services such as IPO and M&A underwriting and advice and corporate services, including stock repurchases and employee stock option and purchase plans, and operations Focus on emerging growth companies in the technology, healthcare and "consumer/healthy living" sectors

They do recruit at a few business schools, but do not cite any formal MBA Program on their website Employment in Boston Advest Group 90 State House Sq. Hartford, CT 06103 860-509-1000 Fax: 860-509-2028 www.advest.com Private Client Group/Investment Management Capital Markets Division Public Finance: Hartford, New York and Boston Investment Banking: Hartford Institutional Equity Trading: New York Equity Research in Technology; Software; Healthcare; Medical Devices; Insurance; Banks & Thrifts; Regional Specialties and Consumer Goods No formal MBA program indicated on website Argus Research Corp 61 Broadway New York, NY 10006 212-425-7500 www.argusresearch.com Independent investment research and marketing organization; No investment banking, corporate finance or brokerage Analysts, economists and portfolio strategists Client Base: full-service brokerage houses, discount brokerages, broker-affiliates of bank holding corporations, trust departments and institutional money managers Blackstone Group 345 Park Avenue 31st Floor New York, NY 10154 (212) 935-2626 Fax: (212) 754-8713 A leading Private Equity Firm Blackstone has been a leader in the field of private equity investing since 1987, managing more than $14 billion through its Blackstone Capital Partners I, II, III and IV and Blackstone Communications Partners I funds. Broadview International (Now part of Jeffries) (201) 346-9000 Fax: (201) 346-9191 www.broadview.com

New York, Silicon Valley, Boston, London, Tokyo Private equity Mergers and acquisitions with a specialty in technology and media Ranked 16th overall among advisors of M&A transactions in 1999, and first among advisors of deals valued between $25 million and $500 million Formal Generalist Training Program in hardware, telecom, software and media services sectors Brown Brothers Harriman & Co. 59 Wall Street New York, NY 10005 (212) 483-1818 Fax: (212) 493-7287 www.bbh.com Recruits MBAs for a variety of positions, including investment management (both as portfolio managers and equity research) and I-banking advisory, including M&A Corporate Finance (M&A; Private Equity): New York Investor Services: Boston Recruits MBAs, but not clear what their formal program is like. Close Brothers Group plc 10 Crown Place London, EC2A 4FT +44-20-720-4000 Fax: +44-20-720-4044 www.closebrothers.co.uk Headquartered in London – looks like mostly U.K. based jobs Corporate finance Asset management Banking Asset finance Market making: UK gilt market, non-gilt sterling denominated fixed income securities, European and US stocks No formal MBA program indicated on website D.E. Shaw 120 W. 45th Street New York, NY 10036 212-478-0000 Fax: 212-478-0100 www.deshaw.com

Hedge fund, market making, online banking, online brokerage, online personal investment services Offices: New York (Headquarters), London, Tokyo, India Doesn’t appear to have a structured program based on website for MBAs. Daiwa Securities Group 6-4 Otemachi 2-chome Chiyoda-ku Tokyo, 100 +81-3-3243-2111 Fax: +81-3-3242-0955 www.daiwa.co.jp Head office in Tokyo; Full fledged large Japanese Investment Bank Retail securities operations of the former Daiwa Securities were incorporated as the New Daiwa Securities Co. Ltd. (Daiwa Securities). The wholesale securities operations were merged with certain securities market operations of The Sumitomo Bank, Limited to form Daiwa Securities SB Capital Markets Co. Ltd. (Daiwa SBCM), a 60% owned subsidiary of the Daiwa Securities Group Inc. In addition to the main securities subsidiaries, other main companies within the Daiwa Securities Group include Daiwa Asset Management Co. Ltd. and Daiwa SB Investments Ltd., which are the active in investment management and investment advisory businesses; the Daiwa Institute of Research Ltd. (DIR), involved in research, system development and consulting; NIF Ventures Co. Ltd., a leading venture capital company; Daiwa Securities Business Center Co. Ltd. which operates common infrastructure on behalf of the Group companies; The Daiwa Real Estate Co. Ltd. which manages some of the Group's offices including most of the branches of the retail company.

First Albany Companies 30 S. Pearl St. Albany, NY 12207 518-447-8500 Fax: 518-447-8663 www.fac.com Investment Banking, Capital Markets and Venture Capital Boutique with the Following Divisions:     Equities: Institutional Sales and Trading, Research, Corporate Finance Asset Management Corporate Services Capital Markets: specializes in the trading and sales of taxable fixed-income securities to institutional investors; Corporate, Mortgage, Asset Backed and Agency markets

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Municipal Finance: primarily Albany and New York City but also Boston, Los Angeles, Chicago and Greenville (Dallas) and Institutional Sales and Trading offices in New York City, Albany, Hartford, Richmond and Rancho Santa Fe (San Diego) Tech Ventures: Private equity fund focusing on early and expansion stage tech companies; Located Boston and Albany

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**Sold Private Client Group to First Union Locations in New York, Albany, Chicago area, Texas, West Coast – website was a bit confusing as to which divisions are located where, but Albany and NYC seem to be their “headquarters” Friedman Billings Ramsey Group 1001 19th St. North Arlington, VA 22209 (703) 312-9500 Fax: (703) 312-9601 www.fbr.com Investment banking services to high tech and Internet companies based in the Northern Virginia area, especially equity and debt underwriting and private equity Student Internships (Did not specify whether MBA or not) in: Asset Management Equity Research Investment Banking Institutional Sales Accounting/Finance Corporate Communications Human Resources Information Technology Legal/Compliance Apply via H.R. Located in Washington D.C. area General Commerce Bank AG Schlickgasse 1 A-1090 Wien, Austria Phone: 43-1-317-27-00 Fax: 43-1-317-27-00-73 Email: Info@gcbank.at

Asset Management Portfolio Management Investment Banking **Based in Vienna, but international clientele

Greenhill & Co. 31 West 52nd Street 16th floor New York, NY 10019 212-408-0660 Fax: 212-408-0685 www.greenhill-co.com London, Frankfurt and New York Have direct recruiting email contact on website Primarily a Merchant Bank. Generalist Investment Banking Program for MBAs; Also has detailed information on European Graduate program online Investment Banking with expertise in Media & Telecom, Technology, Financial Services, Food, Beverage & Consumer Products, and Real Estate Specializes in Corporate mergers and acquisitions, Strategic advice and Real estate investment banking

HSBC Holdings 10 Lower Thames St. London, EC3R6AE 44-171-260-0500 Fax: 44-171-260-0501 www.hsbcgroup.com Graduate Recruiting Programs in commercial banking, information technology, international management, and investment banking and markets Detailed recruitment website is http://recruitment.hsbc.com/ 2 Global Graduate Programs: (i) International Management and (ii) Investment Banking and Markets 2 U.K. Graduate Programs: (i) Commercial Banking and (ii) Information Technology Houlihan Lokey Howard & Zukin 1930 Century Park West Los Angeles, CA 90067 (310) 553-8871 Fax: (310) 553-2173 www.hlhz.com Recruits on campus. 10 Offices in North America and Asia including New York Specializes in Middle Market Banking

M&A advisory, management buyouts, financial restructurings, tax and estate-related valuations, and private placements, merchant banking Research department that specializes in providing M&A data and analysis Very strong in tech Detailed Recruiting Website: http://recruiting.hlhz.com/ ING Securities Futures & Options 90 West St New York, NY 10006 212-298-7500 www.inggroup.com Recruiting website: http://www.recruitment.ing.nl/ingenglish/index.html They have corporate and investment banking, management, asset management and are global Please refer to recruiting website for details Investment Technology Group 380 Madison Ave. New York, NY 10017 212-588-4000 Fax: 212-444-6295 www.itginc.com Online brokerage and trading with focus on re focused solely on technology-driven trading, and an ongoing commitment to intensive R&D

New York - Trading, Research, Administration Boston - Financial Engineering, Trading (Domestic and International) Los Angeles - Software Development Tel Aviv - Software Development Toronto - ITG Canada London and Dublin - ITG Europe Sydney and Melbourne - ITG Australia Janney Montgomery Scott 1801 Market Street Philadelphia, PA (888) JMS-GROW www.janneys.com

**Largest Philadelphia-based regional full-service brokerage firm Investment banking services to middle market companies with particular emphasis on the midAtlantic Equity research organized by industry sector Fixed Income:  Corporate Bonds  Preferred Securities  Tax Free Municipal Bonds  Zero Coupon Bonds  U S Treasury Securities  Mortgage Backed Bonds  FDIC Insured Certificates of Deposit  Money Market Instruments Market making on over 140 stocks Financial Services Products  Public Finance  Asset Liability Services  Institutional Sales  Insurance  Deferred Compensation  Janney Central Asset Account  Mutual Fund Opportunities  Janney Money Management Services  Other Resources Jefferies & Co. 11100 Santa Monica Blvd 11th Floor Los Angeles, CA 90025 (310) 445-1199 Fax: (310) 914-1014 www.jefco.com **Based in Los Angeles      Equity, Convertible and International Trading Corporate Finance Equity, Convertible and High Yield Research High Yield Investment Banking for small and mid-sized companies (Underwriting, M&A, Advisory Work): niches in niches business, information and Internet services, e-finance, energy, gaming, media, and telecommunications.

Hire MBAs, but small training program compared to large investment banks

John Nuveen Company 333 W. Wacker Drive Chicago, IL 60606-1286 (312) 917-7700 Fax: (312) 917-8049 www.nuveen.com Located in Chicago Investment management products include defined portfolios, mutual funds, money market funds, and exchange-traded funds Bond underwriting and trading Known for its unit trust and municipal bond businesses Does hire MBAs – contact Human Resources for information

Lazard 30 Rockefeller Plaza New York, NY 10020 (212) 632-2000 Fax: (212) 632-6060 www.lazard.com    Classic advisory boutique, specializing primarily in providing mergers and acquisitions advice Small underwriting and trading practice and an asset management arm with approximately $80 billion under management Corporate finance, money markets, capital markets, asset management, asset trading

Located: London, New York and Paris IB recruits at B-school; Asset management fills positions word of mouth Formal summer internship program in Corp Finance – Advisory based in London See http://www.lazard.com/careers/ for details

Legg Mason 100 Light Street Baltimore, MD 21202 (410) 539-0000 Fax: (410) 454-4923 www.leggmason.com **Headquartered in Baltimore

Offers investment advisory, securities brokerage, investment banking, and commercial mortgage services to individuals and institutions Investment banking services through two subsidiaries: 1. Legg Mason Wood Walker: e-business and consumer services, education, electronic commerce, financial services, health care, industrial, professional sports, real estate, technology, and telecommunications 2. Howard, Weill, Labouisse, Friedrichs: energy related investment banking (New Orleans) Equity and Fixed Income Research Team Known for asset management business See http://www.leggmason.com/employment/index.asp to get more information on employment and to apply. MEDIOBANCA - Banca di Credito Finanziario S.p.A. Via Filodrammatici 10 Milan, 20121 39-02-882-91 Fax: 39-02-882-9367 http://www.mediobanca.it/ Location: Italy Research Business Development Investment Banking Corporate Banking Equity Capital Markets Credit and Structured Finance Capital Markets and Treasury They do recruit graduates – see website under job opportunity

Miller Johnson Steichen Kinnard, Inc. (MJSK) 920 Second Ave. South Minneapolis, MN 55402 (612) 370-2700 (800) 444-7884 Fax: (612) 370-2557 http://www.mjsk.com/index.php    Underwrites public offerings, arranges private placements of equity, or makes markets in bond securities Equity research department focuses on regional growth stocks. Offers cash management, mutual funds, IRAs, and private client brokerage services

Core Divisions:  retail investment services

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fixed income equity capital markets

Mizuho Securities USA 111 River Street, 11th Floor Hoboken, NJ 07030 Phone: (201) 626-1000 Facsimile: (201) 626-1577 E-mail Glenn.Haberbush@us.mizuho-sc.com www.lanston.com Trades and underwrites U.S. government securities Trading and research in futures and options No formal MBA program indicated on website Morgan Keegan Morgan Keegan Tower 50 Front St. 17th Floor Memphis, TN 38103 (901) 524-4100 Fax: (901) 579-4406 www.morgankeegan.com **Based in Memphis, TN equity and debt underwriting, asset management, corporate finance, private equity and investment advisory, sales and trading (equity and fixed income), also markets to individual investors Niche in equity underwriting and IPOs in the Southeast Equity and Fixed Income Investment Banking Programs have formal MBA hiring Nesbitt Burns 1 First Canadian Place 14th Floor PO Box 150 Toronto, Ontario, MhX 1H3 Fax: 416-359-7499 www.nesbittburns.com Offices: North America, Europe and Asia   Private Client Group Investment and Corporate Banking Division: mergers & acquisitions; divestitures; public take-over bids; take-over defense, fairness opinions and valuations; restructurings and recapitalizations; lead underwriter of equity and debt securities in Canada

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(Toronto, Montreal, Calgary, Vancouver, New York, Chicago, Houston, Mexico and London UK) Institutional Equity Sales and Trading (top notch in Canada) Equity Research (Toronto, Montreal, Calgary and New York)

OffRoad Capital 50 Fremont Street 20th Floor San Francisco, CA 94105 (415) 796-5060 Fax: (415) 796-5010 www.offroadcapital.com **Based in San Francisco  Combination of investment banking and venture capital: acts as a go-between for investors and private companies in the late stages of financing for deals in the $3 to 15 million range Broad industry focus Uses internet to help raise capital

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Peter J. Solomon Company 767 Fifth Avenue New York, NY 10153 (212) 508-1600 Fax: (212) 508-1633 www.pjsolomon.com    Boutique investment bank specializing in mergers and acquisitions, restructuring, and financing advisory Private Placement Group that specializes in debt and equity financings Has advised on a lot of bankruptcies and restructurings

Recruits MBA Associates from select campuses; Has formal associate program which is described on their website Putnam Lovell Securities Four Embarcadero Center 26th Floor San Francisco, CA 94111 (415) 772-2100 Fax: (415) 772-2145 www.putnamlovell.com

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Investment Banking: underwriting, M&A advisory, research and sales and trading -- to mostly mid-sized financial institutions Venture Capital and Private Equity through Putnam Lovell Capital Partners (affiliate)

M&A is its biggest specialty Offices: San Francisco (where it’s based), New York, London and Rolling Hills Estates, CA They have a formal analyst program, but do not appear to have a formal associate program

RBC Dominion Securities, Inc. Royal Bank Plaza 200 Bay Street Toronto, Ontario, M5J 2W7 (416) 842-2000 www.rbcds.com Corporate and Investment banking arm of Royal Bank of Canada – they are a very large Canadian investment bank and basically have everything that a Morgan Stanley would have    Fixed Income and Equity Sales and Trading and Research Investment Banking Private Client Services

There is a formal associate program described in detail on their website For investment banking, the associate specializes in origination (organized via specialized industry groups) or M&A Hubs are Toronto, London and Sydney Trading floors also located in New York, Singapore, Tokyo, Paris, Lausanne and Johannesburg Fixed Income under RBC Dain Rauscher: RBC Dain Rauscher Inc Dain Rauscher Plaza 60 South 6th Street, 19 th FL Minneapolis, MN 55402 888-217-2029 Fax: 612-371-7933 www.rbcdain.com Fixed Income Capital Markets Team: taxable and tax-exempt bond sales, trading, underwriting and research services, in addition to public finance services Locations: Minneapolis, Houston

Investment banking and Equity Capital Markets division: corporate finance, equity research, syndicate, equity trading and institutional equity sales, as well as NASDAQ, options and listed stock trading Equity research analysts follow many companies in the consumer, energy, services, healthcare and technology segments. Public Finance: financial advisory and underwriting services for virtually all types of taxexempt and taxable debt for general governmental and school district issuers, conduit borrowers, and non-profit organizations involved in healthcare, private education and housing 11 U.S. Locations Private Client Group: 4 regions covering states west of the Mississippi, Illinois, Wisconsin *Merged with Tucker Anthony Sutro in 2002

Raymond James Financial 880 Carillon Pkwy St. Petersburg, FL 33716 (727) 573-3800 Fax: (727) 573-8244 www.rjf.com Based in St. Petersburg, Florida MBA opportunities in Investment Banking, Equity Research, Office of the Chairman, Asset Management, Sales, and Trading – detailed descriptions of formal program on their website. Robert W. Baird & Company 777 East Wisconsin Avenue Milwaukee, WI 53202 (414) 765-3500 www.rwbaird.com Investment banking boutique focusing on technology, industrial consumer, healthcare/life sciences and financial services/utilities Also has asset management, corporate finance, mergers and acquisitions advisory, research, private equity, private client group, and sales and trading Based in Milwaukee; investment banking offices in Chicago, Tampa, Cleveland, Atlanta, and Nashville, London, Paris, Barcelona, and Hamburg Doesn’t mention formal MBA program on website

Ryan Beck & Co. Liz Maynor Staffing Specialist 220 South Orange Avenue Livingston, NJ 07039

Phone: 973-597-5980 Fax: 973-597-6408 E-mail: jobs@ryanbeck.com http://www.rbeck.com/ Located in NJ with some branch offices on East Coast Boutique investment bank serving mid-sized companies, especially financial institutions:  mergers and acquisitions advisory  underwriting (equity and debt, including public finance)  sales and trading and research  asset management through Cumberland advisors No formal MBA program indicated *Acquired Gruntal & Co. in 2002 Southwest Securities Group 1201 Elm St. Ste. 3500 Dallas, TX 75270 214-651-1800 Fax: 214-749-0810 www.southwestsecurities.com Offices in Chicago (corporate bond trading located there), New Mexico and Texas (headquarters)        corporate finance fixed income private client group research equity trading institutional sales public finance

They have a formal undergraduate program, but no formal graduate program in mentioned Sun Hung Kai & Co. Level 12, One Pacific Place 88 Queensway Hong Kong, 852-2822-5678 Fax: 852-2822-5664 www.shkco.com **Primarily located in Hong Kong    Research Corporate Finance, M&A, Capital Markets Foreign Exchange, Bullion and Commodities Trading

SunTrust Banks, Inc. 303 Peachtree St. NE Atlanta, GA 30308 (404) 588-7711 Fax: (404) 332-3875 www.suntrust.com Headquartered in Atlanta Corporate and Investment Banking Does not appear to have formal program for MBAs Thomas Weisel Partners One Montgomery Street San Francisco, CA 94104 415-364-2500 Fax: 415-364-2695 www.tweisel.com Merchant bank providing investment banking, institutional brokerage, private client services, private equity and asset management exclusively focused on the new frontiers of the growth economy Does hire MBAs, but no formal program cited on website **Locations: San Francisco (Headquarters), New York, London, Boston, Menlo Park

U.S. Bancorp Piper Jaffray 800 Nicollet Mall Suite 800 Minneapolis, MN 55402 (612) 342-6000 Fax: (612) 342-6996 www.piperjaffray.com Investment banking arm of U.S. Bancorp, the Minnesota-based commercial bank Investment banking: underwriting, research, sales, and trading, venture capital arm Specializes in fixed income investment banking, especially municipal bond underwriting New employees in the investment banking department are assigned to industry groups based on preference or previous experience Offer summer internships to graduate students **Locations: Minneapolis and San Francisco are primary, but have offices all over U.S. W.P. Carey & Co. 50 Rockefeller Plaza

New York, NY 10020 212-492-1100 Fax: 212-977-3022 www.wpcarey.com Real Estate Financing Solutions Does not appear to have formal MBA program WR Hambrecht + Co. 539 Bryant Street Suite 100 San Francisco, CA 94107 415-551-8600 Fax: 415-551-8686 www.wrhambrecht.com underwriting, M&A and venture capital for tech-related companies Active in investment banking, online brokerage services, private equity, mergers and acquisition advisory services, research, trading and electronic underwriting through its OpenIPO system. Location: San Francisco

Wachovia Securities 3 Wachovia Center 27th Floor (Mail Code NC-0598) Charlotte, NC 28288-0958 Summer Associate Recruiting: Johnna Fary johnna.fary@wachovia.com (704)383-9552 www.wachovia.com Wachovia Corporation is a diversified financial services company that provides a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. Banking, brokerage, and corporate customers primarily on the East Coast Investment banking offices in selected locations. Also have full-service retail brokerage offices that serve customers under the Wachovia Securities name in 49 states. Global services are provided through 30 international offices.

William Blair & Company, LLC 222 West Adams St. Chicago, IL 60606 (312) 236-1600 Fax: (312) 368-9418 www.wmblair.com

Investment banking, equity research, institutional and private brokerage, asset management and private capital for corporations, institutions and individuals Recruits MBAs Banking starts as generalist program and then moves into specialty, such as Business Services, Consumer, Financial Services, Healthcare, Technology, M&A and Private Equity Placements. Most banking Associates are located in Chicago but also established Corporate Finance offices in San Francisco and London. **Location: Based in Chicago with offices in offices in London, Lichtenstein, Switzerland, and San Francisco Ziegler Securities 215 N. Main St. West Bend, WI 53095 262-334-5521 Fax: 262-334-1804 www.ziegler.com Investment banker to healthcare, senior living and religious organizations, and also corporate finance, asset management, retirement plans, risk management and M&A advice Career areas include: Accounting and Finance Administration Branch Location Office Support Clerical Support Client Service Equity and Fixed-Income Research Human Relations Information Technology Services Institutional Sales Investment Banking, associate and senior positions Investment Consultants, sales and business development Marketing Communications Mutual Funds, administration, sales and marketing Sales Assistants **Location: Various offices throughout the U.S. Other investment banks: Rothchild BNP Paribas SG Cowen CIBC ABN Amro (Netherlands) Cazenove (UK) Dresdner Kleinwort Wasserstein Scotia Capital PWC, Ernst & Young, Deloitte & Touche (M&A advisory departments)

Keefe Bruyette & Woods Jefferies & Co. Pharus Advisors Daniels and Assoc. Needham & Co. Investec


				
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Description: Investment Banking Preparation