Small specialist investment banks are no longer viable, or so the argument goes. Why else would the old four horsemen of tech banking, Alex Brown, Montgomery Securities, Robertson Stephens and Hambrecht&Quist, all have sold out to bigger institutions with more products and bigger balance sheets?
The success of Thomas Weisel Partners would appear to prove this theory wrong. The bank was only set up in early spring last year, yet has already met with considerable success, in terms of backers won over, bankers recruited, and deals done.
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