Pacific Crest Securities was an American independent investment bank initially based in the Pacific Northwest region.[1][2] The bank focused on the global technology sector in institutional equities (research, sales, trading) and investment banking (mergers and acquisitions and public offerings).[3][4]
| Company type | Private company |
|---|---|
| Industry | Financial services |
| Founded | 1990 |
| Founder | George Edward Glass |
| Defunct | 2015 |
| Fate | Acquired |
| Successor | KeyBank's investment banking unit, KeyBanc Capital Markets (KBCM) |
| Headquarters | , |
Area served | Worldwide technology sector |
Key people | Scott Sandbo (CEO), Daniel Shank (CFO/COO) |
| Products | Investment banking, Equity Investments (research, sales, and trading) |
Number of employees | 170 (2015) |
History
editThe firm was founded in 1990 initially focused on the Pacific Northwest region then in 1998 the firm shifted to focus solely on the global technology sector in institutional equities (research, sales, trading) and investment banking (mergers and acquisitions and public offerings). Scott Sandbo was chairman and CEO, George Glass was president. Pacific Crest was recognized by Institutional Investor and Greenwich Associates for its technology research.[5][6][7]
Pacific Crest was an active managing underwriter for technology initial public offerings including Alibaba,[8] Facebook[9] and Workday.[10]
In 2010 Pacific Crest established an annual survey to provide benchmark information to private SaaS companies' operational and financial metrics.[11][12] The SaaS survey has become a standard for reporting growth rates, margins and customer acquisition data for private SaaS companies[13][14][15]
In 2011 Pacific Crest acquired Shanghai-based investment research firm, Pacific Epoch, from Goldman Sachs to provide data and perspectives on the dynamics impacting the technology landscape in China.[16]
In July 2014, KeyCorp's investment banking unit, KeyBanc Capital Markets (KBCM), announced its intention to acquire Pacific Crest and Pacific Crest was merged into KBCM in 2015.[17][18]
At the time of the acquisition, Pacific Crest Securities had 170 employees in their offices worldwide.[19]
References
edit- ^ "BrokerCheck - Find a broker, investment or financial advisor". brokercheck.finra.org. Retrieved 2020-10-16.
- ^ "Pacific Crest Securities Llc SEC Registration". sec.report. Retrieved 2020-10-16.
- ^ Veverka, Mark. "Fewer, Cheaper Exits for Tech". www.wsj.com. Retrieved 2021-04-27.
- ^ "Institutional clients eat up Pacific Crest research". www.bizjournals.com. 2000-05-06. Retrieved 2021-04-27.
- ^ "Pacific Crest Securities among 'best of boutique'". www.bizjournals.com. Retrieved 2020-09-16.
- ^ "The sunny side of the Street". Institutional Investor. Retrieved 2020-09-16.
- ^ "Concentrated effort: The best of the boutiques and regionals". Institutional Investor. Retrieved 2020-11-21.
- ^ "424(B)(4)". www.sec.gov. Retrieved 2021-10-29.
- ^ "Facebook adds 25 more underwriters for IPO". Reuters. 2012-03-08. Retrieved 2021-10-29.
- ^ "Form S-1". www.sec.gov. Retrieved 2021-10-29.
- ^ Skok, David (2016-10-17). "2016 Pacific Crest SaaS Survey – Part 1". For Entrepreneurs. Retrieved 2021-04-27.
- ^ Columbus, Louis. "Lessons Learned From The 2013 Pacific Crest SaaS Survey". Forbes. Retrieved 2021-06-28.
- ^ "SaaS Results and Benchmark Data from Pacific Crest | OpenView Labs". OpenView. Retrieved 2021-06-28.
- ^ "Customer Success Takeaways from the Pacific Crest SaaS CEO Survey". Customer Success and Product Experience Software | Gainsight. 2015-12-03. Retrieved 2021-06-28.
- ^ David Spitz, Managing Director at Pacific Crest Securities: Measure Your Success: Tell Your Story Using SaaS Metrics (Video + Transcript) | SaaStr, 2018-01-29, retrieved 2021-12-13
- ^ "Pacific Crest Securities Buys Shanghai-based Bank to Help Navigate the China Web Chaos". TechCrunch. Retrieved 2021-12-17.
- ^ Johnson, Andrew R. (2014-07-17). "KeyCorp to Buy Pacific Crest Securities as Profit Rises". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-12-17.
- ^ "Key locks up Pacific Crest Securities deal". www.bizjournals.com. Retrieved 2021-12-17.
- ^ Gellner, Arrol (2001-05-15). "ARCHITEXT: Investment bank Pacific Crest Securities opens Boston office • Daily Journal of Commerce". Daily Journal of Commerce. Retrieved 2020-12-18.