NEW YORK, Feb. 3 /PRNewswire/ -- Merrill Lynch (NYSE: MER) today announced
that Joseph M. Schell has joined the firm as its new head of global technology
investment banking.
Mr. Schell headed investment banking at Montgomery Securities for
approximately 15 years. Subsequently, he was head of investment banking at
Bank of America after its merger with Montgomery in 1998.
Since 1985, Mr. Schell directed the growth of Montgomery's investment
banking division from 17 professionals and $22 million in revenues to more
than 300 professionals with revenues of $470 million. Under his supervision,
the group was recognized as the leader in public and private equity financing
for emerging-growth companies, a leading IPO underwriter and leading merger
advisor to growth companies.
"We are thrilled that one of Silicon Valley's most senior and highly
respected investment bankers has decided to lead Merrill Lynch's growing
technology effort," said Daniel H. Bayly, head of Merrill Lynch's investment
banking group. "Joe will build for Merrill Lynch one of the world's leading
technology banking franchises."
Merrill Lynch's technology investment banking group has grown rapidly
since the founding of the group in 1996 -- it now employs approximately
90 people worldwide. In 1999, the firm lead-managed more than $11 billion in
equity and equity-linked issuance, including Internet Capital Group, the
year's best performing initial public offering. Further, Merrill Lynch ranks
at or near the top in mergers and acquisitions advisory in the sector.
"I am delighted to be joining Merrill Lynch," said Mr. Schell. "Merrill
Lynch combines a reputation for excellence with an extensive global presence
and a powerful brand name. The commitment of senior management to building
this franchise is very impressive."
"The company's global capabilities and resources can be invaluable to all
of our clients -- both large and small," he added. "Merrill Lynch has made
good progress in this area, and I look forward to helping to take our
technology team to the next level."
Mr. Schell left Bank of America in the Spring of 1999 to pursue personal
interests and joined several corporate boards. He is active in many San
Francisco Bay area civic, philanthropic, and educational organizations. He
will be based in Palo Alto, Calif.
Merrill Lynch is one of the world's leading financial management and
advisory companies with offices in 44 countries and total client assets
exceeding $1.7 trillion. As an investment bank, it is the top global
underwriter of debt and equity securities and a leading strategic advisor to
corporations, governments, institutions and individuals worldwide. Through
Merrill Lynch Asset Management Group, the company is one of the world's
largest managers of financial assets.
SOURCE Merrill Lynch & Co., Inc.
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CONTACT:
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