| Topic Name: |
Chase H&Q vs. PruSec |
| Message Name: |
Pru. vs. VBW |
| Date Posted: |
04/12/2000 |
| In Reply To: |
Is Prudential what used to be Volpe Whelan? Or does it depend what office/sector you're in? |
| Message: |
Prudential acquired Volpe Brown Whelan (VBW)in Dec. of 1999 for more than $150 million, in order to beef up its research and banking efforts in the emerging technology market (where Pru had zero clout). The tech. focused bankers and analysts that were with Pru. Securities prior to the acquisition were then folded into the new combined unit of Prudential Volpe Technology Group. But since December, more than 75% of what used to be Volpe Brown Whelan has since defected to various other firms and opportunities, due to the disagreeable and careless manner in which the merger was executed. What is currently left, and known as "PVTG" is merely a shell/label - with very few of VBWs former leaders in place, and Pru guys in charge.
Not 100% sure about the details but this is the gyst of what I've heard...hope it helps!
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