Dain Rauscher Wessels Opens Office in Paris.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--May 1, 2000 Dain Rauscher Wessels, the equity capital markets division of Dain Rauscher, has opened an institutional equity sales office in Paris, announced Peter Grant, president of Dain Rauscher Wessels. This is the first international office for DRW DRW Drawing(s) DRW Dual Rear Wheels (pickup truck) DRW Detroit Red Wings DRW Darwin, Northern Territory, Australia (Airport Code) DRW Dr Who . Ruth Gardner, principal, joined DRW to open and lead the Paris office. DRW has long had institutional client relationships in London through its international sales department in the firm's Minneapolis headquarters. The Paris office helps continue the firm's penetration into Europe. "The French market is a natural next step for our international growth," Grant said. "There are many large, high-quality institutional investors in France who have a growing interest in the U.S. equities market, particularly in the technology and telecommunications industries - industries in which DRW excels with strong franchises. "We're very excited to have someone of Ruth's caliber establish a direct presence for us in Paris," Grant added. "She brings with her many significant institutional relationships that should benefit our sales business in the near term and long term." Gardner has 15 years of securities industry experience - 13 of those in France. She joined DRW from Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank , where she had headed U.S. equity sales in the Paris office since 1995. Prior to that, she worked on the buy side for eight years, most recently with Paribas. "Expanding our equity research platform and our investment banking business has allowed us to more effectively increase our sales presence in the European market," Grant said. Dain Rauscher Wessels has become an important player in both common stock offerings and advising on mergers and acquisitions. In the first quarter of 2000, DRW had record revenue of $126 million, helping propel Dain Rauscher Corp. (NYSE NYSE See: New York Stock Exchange : DRC DRC Democratic Republic of Congo DRC Down (Stage) Right Center DRC Director(ate) of Reserve Components DRC Disability Rights Commission (United Kingdom) ) to a record first quarter of $40 million in net income on $351 million in net revenue. During the quarter, DRW completed 42 common stock offerings (valued at $12.3 billion), three private placements and four mergers and acquisitions. It ranked as the 13th-largest underwriter of domestic common stock offerings, the same as it ranked for all of 1999. The majority of first-quarter transactions were for technology companies, although several were in other industries such as healthcare. In 1999, DRW completed 101 domestic common stock valued at $14 billion. The division ranked first nationally for network technology and energy transactions. In aftermarket trading, its public offerings appreciated by an average of nearly 250 percent during 1999, the best performance in the country. In addition, Dain Rauscher Wessels significantly grew its merger and acquisition advisory business last year, completing advisory assignments representing more than $4 billion in aggregate transaction value - approximately double that of 1998. The Dain Rauscher Wessels division includes equity research, equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as , institutional equity sales and corporate finance. The division's 38 analysts focus on five industries: consumer, energy, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , health care and technology. The division, which employs 380 people, has offices in Austin, Texas; Boston; Chicago; Dallas; Houston; Minneapolis; Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.; New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ; San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden ; Seattle; and Tel Aviv Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Israel.(a) Minneapolis-based Dain Rauscher Incorporated provides investment services to individual investors and small businesses through offices in 26 predominantly western states, investment banking services to corporations and municipalities nationwide, and trade clearing and settlement services to nonaffiliated broker-dealers throughout the United States and abroad. Dain Rauscher Incorporated, one of the nation's largest full-service securities firms, is a member of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and other major securities exchanges, as well as the Securities Investor Protection Corp. Dain Rauscher Corporation, its holding company, trades on the New York Stock Exchange under the symbol DRC. The firm's headquarters are located at Dain Rauscher Plaza, 60 S. Sixth St. (a) Strategic alliance with Tamir Fishman & Co |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion