Bear Stearns Expands Technology Investment Banking Group; Robert C.
Harris, Jr. and Jody A. Owen Join Team
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11/19/97
Business Wire
(Copyright (c) 1997, Business Wire)
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NEW YORK--(BUSINESS WIRE)--Nov. 19, 1997--In the latest expansion of its technology investment banking capability, Bear, Stearns & Co. Inc. announced today that Robert C. Harris, Jr. has joined the firm as a senior managing director and head of San Francisco investment banking. He will also co-head the west coast technology investment banking effort with Gretchen Knoell. In addition, Jody A. Owen has joined the firm as a managing director in the group and will be based in New York.
Mr. Harris joins Bear Stearns from Unterberg Harris where he was the co-founder and a managing director. From 1984 to 1989 he was a general partner, managing director and director of Alex. Brown & Sons, and head of its San Francisco office. Prior to that he was a partner with Robertson Stephens & Company. Mr. Harris holds a BS and a MBA from the University of California at Berkeley.
Mr. Harris' investment banking career has been based in San Francisco, with a particular focus on the technology industry. He has represented some of Silicon Valley's most prestigious companies, including Adaptec, Inc., Cadence Design Systems, Inc., Oracle Corporation, Seagate Technology, Inc., Silicon Graphics, Inc., and Sybase, Inc., among others. He is a director of MDSI Mobile Data Solutions, Inc., N2K, Inc. and several private companies.
Prior to joining Bear Stearns, Ms. Owen was a managing director at Unterberg Harris. From 1982 to 1990 she was a senior vice president of Shearson Lehman Brothers. Ms. Owen has over 15 years of investment banking experience in the technology sector, having worked with Tandem Computers Incorporated, Newbridge Networks Corporation, Symbol Technologies, Inc., Adaptec, Inc., VMX, C - Cube Microsystems, and Informix Software, Inc., among others. She is a director of GMT Microelectronics and The Molloy Group. She is a graduate of Brown University and holds an MBA from New York University Graduate School of Business Administration.
Commenting on the new hires, Denis Bovin and Michael Urfirer, co-heads of Bear Stearns' Technology Group, said, "Bob and Jody are very important hires for Bear Stearns and are valuable additions to our technology investment banking effort. Their arrival signals yet another step in our ongoing commitment to expand our relationships and resources, especially on the West Coast. We have built a solid banking and research team dedicated to the technology sector and are committed to its continued growth."
The Bear Stearns Technology Banking Group has a well-established record of serving this industry. The firm has a history of providing technology companies with solutions to complex strategic and financing problems, including a $350 million convertible offering and multiple acquisitions for SoftKey International, Inc., Ceridian's $962 million acquisition of Comdata Network, Sybase Inc.'s $943 million acquisition of Powersoft, a $119 million equity offering for MRV Communications, a $158 million initial public offering for Healthcare Recoveries Inc., numerous debt offerings for Unisys, and, recently, a $200 million convertible bond offering for Adaptec, Inc. The group has also been the dominant advisor to the defense sector throughout its consolidation, including Lockheed Martin's $11 billion acquisition of Northrop Grumman and its $9.2 billion acquisition of Loral, Raytheon's $9.5 billion acquisition of General Motors' Hughes Electronics Defense operations, and Raytheon's $2.95 billion acquisition of Texas Instruments' Defense and Electronics operations.
Bear Stearns offers technology companies a full range of investment banking services, from comprehensive equity research coverage to initial public offerings and mergers and acquisitions. Bear Stearns' 11 senior technology analysts cover diverse high-tech sectors including: aerospace, connectors, contract manufacturing, computer services, data networking, health care information technology, medical supplies and technology, microcomputers, enterprise software, publishing/information, semiconductors, telecommunications equipment and wholesale distribution.
Bear, Stearns & Co. Inc., the major subsidiary of The Bear Stearns Companies Inc., is a leading worldwide investment banking and securities trading firm. With approximately $13.3 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers professional and correspondent clearing, including securities lending. Headquartered in New York City, the company has over 8,500 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco and Washington, DC; and an international presence in Beijing, Buenos Aires, Geneva, Hong Kong, London, Lugano, Manila, Paris, Sao Paulo, Shanghai, Singapore and Tokyo.
CONTACT: Hannah Burns (212) 272-2395 Mary Flounders Green (212) 272-4356
11:17 EST NOVEMBER 19, 1997 |
