Frank Quattrone's Qatalyst Group just took the next step back toward Valley i-banking domination, as Frank's old partner, George Boutros (below), left Credit Suisse to join Frank again.
Look out, Morgan Stanley. Look out, Goldman. The old gang's back together again...
Bloomberg has more...
Legendary investment banker Frank Quattrone is apparently a super fan of the Philadelphia Flyers.
During last night's tough loss to the Chicago Blackhawks, Frank tweeted, "Come on Flyers, rally!" Steve Case retweeted Frank and appended the photo below.
Who knew Frank was so Flyered up? The Flyers are down 2 games to 0 in the Stanley Cup finals. The series shifts back to Philly, so hopefully they can even things up.
Right, Frank?
Frank Quattrone has been investing in technology companies since the 1970s, so when he makes a rare public appearance to comment on the current state of the industry it's worth taking a listen.
Today at the Web 2.0 Summit, he took a few minutes to comment on the current state of mergers and acquisitions. His company Qatalyst Partners has handled several recent high-profile buys, including Isilon's purchase by EMC and the eventual sale of 3PAR (after a bidding war that worked out very well for the company) to HP.
For the last 25 years or so, specialization has been the rule. Intel made chips, Microsoft made operating systems, EMC made storage, Oracle made databases and so on. So when startups were looking to be acquired, they generally had to stay within their sector, meaning you'd have one or two possible buyers.
The new leaders in the tech space, like Apple, Amazon, and Google, are much more comfortable going across sectors, and the old guard is following along--Oracle's trying to build an entire application stack through acquisitions. Consequently, if you're a networking company you're not just going to be bought by Cisco...you could be bought by Oracle, Dell, HP, or any of a half dozen other companies.
There's also a ton of cash sitting on big tech companies' balance sheets--Microsoft, Apple, and Google each have more than $20 billion. That's not earning any return for their shareholders.
In other words, look out for a continued acceleration in M&A in the tech sector, particularly in cloud computing and its relatives, like software-as-a-service and virtualization. As likely buyers, he mentioned HP, Dell, Google, and IBM--which has already said it plans to spend $20 billion on acquisitions by 2015.
There's no denying it. It's been one heck of a week for Frank Quattrone's Qatalyst Partners.
His boutique advisory firm, Qatalyst Partners, served as a deal adviser for both the Motorola Mobility proposed sale earlier this week to Google for $12.5 billion and the Hewlett-Packard's proposed $10.2 billion takeover yesterday of British software company Autonomy.
And it looks like the legendary Silicon Valley investment banker -- who experienced legal troubles in the past -- is experiencing a comeback on a whole other level.
Quattrone's Qatalyst is not only challenging major firms for deals, but it's beating them. Where was Goldman and JPMorgan for that Motorola Mobility/Google deal?
It's not surprising since Quattrone had quite a track record during his years at Morgan Stanley, Deutsche Bank and Credit Suisse.
During the tech boom of the 1990s, the technology-focused i-banker helped bring more than 175 companies public, including Amazon.com, Cisco and Netscape.
However, he had to sit on the sidelines when he became tied up in legal battles.
In 2003 Quattrone was charged with blocking an investigation of Credit Suisse's IPO practices. He was convicted on charges of obstruction of justice and later banned from the securities industry. Eventually he was exonerated on appeal in 2006. The SEC's ban was lifted on him in 2007 and all charges were dropped.
He went on to found Qatalyst Group in 2008. Google was one of the firm's first clients for its takeover struggle between Yahoo and Microsoft. However, that deal never actually happened.
Major deals for Qatalyst have included Data Domain's sale to EMC and device maker Palm's sale to Hewlett-Packard.
Quattrone began his career in banking in 1979 at Morgan Stanley. While at Morgan Stanley, he served as a managing director and head of global tech investment banking until his departure in 1996. He was later the CEO/founder of Deutsche Bank Securities. After his stint with Deutsche Bank Securities, he went to Credit Suisse as a managing director and technology group head until 2003.
He earned his Bachelor's degree in economics from UPenn's Wharton School of Business graduating summa cum laude in 1977. He received his MBA from Stanford in 1981.
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More in the war of words between Oracle and Autonomy!
Megabanker Frank Quattrone gave a statement to the FT about the slides Oracle says it got when Autonomy tried to sell itself to Oracle:
The slides Oracle posted publicly were sent by me to Mark Hurd in January, were prepared by Qatalyst and were for the purpose of our independently pitching Autonomy as an idea to Oracle. These slides were not used in our April meeting with Mark and Doug.
This is a direct contradiction of what Oracle said in a statement last night:
The truth is that [Autonomy CEO] Mr. Lynch came to Oracle, along with his investment banker, Frank Quattrone, and met with Oracle’s head of M&A, Douglas Kehring and Oracle President Mark Hurd at 11 am on April 1, 2011. After listening to Mr. Lynch’s PowerPoint slide sales pitch to sell Autonomy to Oracle, Mr. Kehring and Mr. Hurd told Mr. Lynch that with a current market value of $6 billion, Autonomy was already extremely over-priced. The Lynch shopping visit to Oracle is easy to verify. We still have his PowerPoint slides
If you missed our earlier story, here's what's happening. HP bought Autonomy in a deal valued at $10.2 billion. Larry Ellison later scoffed that the price was absurd and Oracle had shot down Autonomy when it was selling itself. Autonomy CEO Mike Lynch said Autonomy never pitched itself to Oracle. Oracle said, bull, we have the slides to prove otherwise.
Now we're here. Let's see what Oracle does.
Frank Quattrone has been overseeing and advising tech companies on IPOs for more than 30 years, first at Morgan Stanley, and more recently at his firm Qatalyst.
So what advice does he give for those companies who are ready to make the plunge?
The basic takeaway: it's your company. Retain as much control as you can.
Quattrone spoke at an event sponsored by online financial advisors Wealthfront last night.
Update: Here's a video of the event. His suggestions for going public come around 25:00.
Super tech financier Frank Quattrone says a lot of tech companies are waiting longer than they used to before they go public, which means a lower rate of return for investors.
Startups go public for lots of reasons: to reward early employees and investors, to gain liquidity to expand and do acquisitions, and to gain credibility to help with hiring and business development.
But tech companies are waiting a lot longer than they used to back in the 1980s and 1990s, which means investors can't get the kind of returns they used to.
At an event last night sponsored by Wealthfront, Quattrone pointed out that when Intel went public in 1971, it raised only $8 million at a $53 million valuation.
If you had bought the stock then and held it, your return would be more than 1,400 times what you put in. That's a compound annual growth rate of about 20%.
Contrast that with Zynga, which went public last year at a valuation of about $7 billion. If it rises by the same amount, it will be worth more than $9.8 trillion in 2050. Extremely unlikely.
This is true across the board. Quattrone compared a basket of big successful tech stocks that went public before 2000: Intel, Apple, Microsoft, Oracle, Cisco, and a few others. Their average IPO raised $63 million. If investors had put $1 into each of them, their average return would now be $374.
Compare that with successful post-2000 IPOs like Google, Salesforce, VMWare, LinkedIn, and so on. On average, they raised more than $700 million. It's true that they haven't been on the market nearly as long, but if you invested $1 in each of these stocks, you'd have an average fo $5 apiece today.
So why are companies waiting so long to go public? Quattrone listed several reasons:
Quattrone doesn't want to see a flood of thousands of small companies trying to go public too early, which would "kill the golden goose."
But he thinks that companies who do want to go public earlier have a good opportunity now: low volatility and 0% interest rates are driving investors back to the stock market.
LinkedIn showed that new tech IPOs can do very well (he called it "a nice John the Baptist" to have out there), and the JOBS Act is reducing some regulatory burdens -- for instance, public companies will have looser Sarbanes-Oxley requirements for their first five years.
"It's the best climate we've seen since before 2000," he said.
Tech investment big-shot Frank Quattrone's advisory firm Qatalyst Partners was the sole financial advisor of the $1.2-billion Microsoft-Yammer deal, Business Insider has learned.
A source close to the firm emailed us a correspondence between Quattrone and his clients, which we've included below:
Subject: Qatalyst Advises Yammer on Proposed $1.2 Billion Sale to Microsoft
Dear Clients & Supporters,
We are pleased to announce Qatalyst's role as exclusive financial advisor to Yammer, a leading provider of enterprise social networks, in its agreement to be acquired by Microsoft for cash consideration of $1.2 billion.
The news release below describes the proposed transaction in greater detail.
Thanks for your support and we look forward to speaking to you soon!
Best regards,
Frank
It's bound to warm up soon and that means Wall Street will start leaving the trading floor for the golf course in the afternoons.
For right now, though, we expect they'll start switching the channel on the trading floor TVs to the Masters.
To commemorate the big golfing event, Business Insider combed through the latest handicap data for some of the Street's biggest names on GHIN—a website run by the U.S. Golf Association— to see how they stack up against each other on the fairway.
Some of these golfers are very, very talented, while others could use a bit more practice. Take Goldman Sachs CEO Lloyd Blankfein for instance. He seems to find shooting low scores a difficult endeavor.
Keep in mind, the higher the handicap number, the worse the player is in comparison to others with lower handicaps.
Also, JPMorgan's CEO Jamie Dimon doesn't golf. His two predecessors at JPMorgan were members of the prestigious Augusta National Golf Club though.
Firm/Title: Goldman Sachs, CEO
Where He's Played: Blind Brook Club, East Hampton Golf Club, Sebonack Golf Club and Manhattan Woods Golf Club
Last Golf Outing: August 2013
Firm/Title: Appaloosa Management/founder
Where He's Played: Crestmont Country Club
Last Golf Outing: September 2014
Firm/Title: Tiger Management/ founder, CEO
Where He's Played: Deepdale Golf Club, Piping Rock Club, National Golf Links of America, Sebonack Golf Club and Shinnecock Hills.
Last Golf Outing: August 2014
Morgan Stanley is back on top.
Once again, it is the No. 1 tech bank in the US.
This is a comeback.
Morgan Stanley's shine wore off a little in the wake of Facebook’s 2012 IPO. The bank was among a group of Facebook’s partners on the offering that withstood criticism for an oversubscribed offer that was hampered by Nasdaq’s technology.
Morgan Stanley may not have actually been to blame. Even outside Morgan Stanley’s walls, other banking pros are quick to point out what went wrong in Facebook’s IPO: The company’s capital structure was muddled thanks to unfettered secondary-market trading, making it difficult to gauge who owned what, or when.
Fairly blamed or not, after Facebook offering, Morgan Stanley saw its rank on Dealogic’s US technology advisory league table falter after several years being No. 1 in 2013.
This happened for a few reasons. Goldman Sachs got better at tech. It took the lead on Twitter’s 2013 IPO, which was Goldman's biggest tech or internet IPO lead, ever. Meanwhile, Morgan Stanley also had to fend off boutique firms, like ex-Morgan Stanley veteran Frank Quattrone’s Qatalyst Partners, Guggenheim Securities, or Allen & Co.
But that's all over now.
As of mid-week, Morgan Stanley has reclaimed both the top spot for US tech M&A, and for IPOs so far in 2015, according to Dealogic data. The comeback appears complete.
That’s partly due to mega-deals like WhatsApp’s sale to Facebook, which is said to have netted Morgan Stanley about $80 million on one deal alone. But it is also thanks to Morgan Stanley reclaiming its mojo in the IPO space post-Facebook — though 2015's IPO tally is paltry, Morgan Stanley was No. 1 worldwide and in the US for tech IPOs in 2014, Dealogic data shows.
The bank did not respond to requests for comment for this story, including questions on how many staffers Morgan Stanley's tech-banking team employs.
Part of the reason the firm has experienced so much longevity at the top of the technology-sector league tables owes to the tenure of its top bankers: Several have been with the firm nearly two decades.
With specific dealmakers focusing on semiconductor companies, internet, or software firms, industry sources say Morgan Stanley’s tech-banking team has a depth of experience few firms’ “TMT” shops can top. Morgan Stanley's banking team doesn't focus on the "MT" part of TMT (which stands for telecom/media/technology, a vestige of days when technology M&A made up a smaller amount of banks' revenue). The firm's bankers that do tech deals only focus on tech.
We'd like to hear more about what people think of Morgan Stanley. Email Jmarino@businessinsider.com.
Join the conversation about this story »
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Big startups are eschewing IPOs and Wall Street banks are happy to help them.
Instead of public stock offerings, raising money through private placements is all the rage right now. For banks, the higher percentage many are paid in deal fees for helping companies stay private is as appetizing as the exclusive share sale is to the investors.
But the biggest reason they are happy to help startups stay private is because they don’t have to share fees with their competitors.
When a company goes public, the offering is usually made available to a half-dozen banks or more. A banker who works on startups’ private placements says his firm works alone on these types of offerings. That means they don’t have to share a slice of the revenue with anyone.
Banks make barely more than 1% on initial public offerings. What they make on private startups’ fundraising is usually much bigger on a percentage basis. The banker who spoke with Business Insider said investment banks typically make between 3% and 5% on transactions like private placement deals for startups.
It means big business for banks like Morgan Stanley. The bank is listed as having received sales compensation for working on a December 2014 Palantir Technologies offering. Having startups’ stock scarce on private markets keeps prices high and making more on a private placement is a short-term boost for banks’ top lines.
It’s being noticed in places like Silicon Valley, where valuations were already on the rise before big banks’ arrival in funding rounds. One investor said that 75% of unicorn valuations ($1 billion and greater) were led by “non-traditional” investors, like Fidelity Investments or a hedge fund. Non-traditional investors and venture capital firms like Andreessen Horowitz are seeing more of their investments in startups coordinated by big banks.
Goldman Sachs is recognized as Wall Street’s leader at startup private placements. This year it has included transactions like Funding Circle, MuleSoft and SoFi.
Everyone from the biggest banks on Wall Street down to the tiny boutiques that oppose them are going all-in for one kind of client. And it isn't just Morgan Stanley and Goldman Sachs; Deutsche Bank is said to be working in the space and JP Morgan has been involved in private placements as well.
This includes deals like Blue Bottle Coffee’s $75 million round, Spotify’s $500 million fundraising and Coupa’s cash haul earlier this month. One banker points out that for bigger deals like Spotify or Uber’s $1.6 billion private debt placement, Wall Street firms tend to dial down the fee because of the size of the transaction.
On Wall Street, bankers think the unicorn is here to stay. And that means their business is, too.
“In the last 18 to 24 months it’s picked up considerably,” one banker said. “The argument around staying private is compelling."
Frank Quattrone is as controversial as ever.
The tech banker left a career at big Wall Street firms after the bursting dot-com bubble prompted an investigation into how IPO shares were allocated.
He was accused of obstructing justice and witness tampering, but a conviction on those charges was overturned.
The ex-Morgan Stanley, Deutsche Bank, and Credit Suisse banker founded his own investment bank, Qatalyst Group, in 2008 and has been advising on deals since.
The Wall Street Journal's Maureen Farrell just profiled Quattrone in a story that includes interviews with the usually media-shy banker and his colleagues.
Farrell highlights Qatalyst's many successes advising sellers, including blogging platform Tumblr, but she also outlines how some executives in the tech industry won't work with Quattrone because of his methods and complaints of poor service.
In one recent instance, Farrell reports, online-coupon site Ebates paid Qatalyst the equivalent of $1 million an hour after the investment bank basically negotiated a fee and then became "hard to reach."
In the end, Ebates ended up negotiating directly with its eventual buyer, Tokyo-based e-commerce company Rakuten.
Farrell cites one of Quattrone's colleagues as saying that sometimes it's better for a company to negotiate directly with potential buyers, but Ebates cofounder Paul Wasserman told The Journal that he would not hire Qatalyst if he could do it over again.
Read the full story at WSJ.com >>
SEE ALSO: Get ready for the tech IPO comeback
Join the conversation about this story »
NOW WATCH: How a successful investment banker used insider information to bankroll his mistress and child
Silicon Valley banker Frank Quattrone is stepping down as CEO of Qatalyst, the boutique bank he founded in 2008, according to a Fortune report.
Quattrone, 60, spent much of his career at big Wall Street firms, including Morgan Stanley, Deutsche Bank, and Credit Suisse.
He left that career after the bursting dot-com bubble prompted an investigation into how shares were allocated in initial public offerings.
Quattrone started Qatalyst in 2008 and has been advising on tech deals with the firm ever since.
He will be replaced as CEO by George Boutros, who has worked with Quattrone for years at multiple firms, according to Fortune. Qatalyst also named Jason DiLullo and Jonathan Turner as new copresidents, according to the report.
Quattrone will become executive chairman.
Read the full story over at Fortune »
SEE ALSO: Frank Quattrone was reportedly paid $1 million an hour for a deal he barely worked on
Join the conversation about this story »
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Yahoo CEO Marissa Mayer and the rest of the company's board members are not on the same page, creating a "totally dysfunctional situation,"according to the New York Post.
The report said that the difference between the two sides is growing, and now it's affecting the bankers representing each party as well.
Mayer recently hired Frank Quattrone, the legendary Silicon Valley dealmaker, as a personal adviser, while Yahoo has been consulting with Goldman Sachs, JPMorgan, and Evercore Partners. But Quattrone has been advising Mayer "on all matters, including what to do with Yahoo," causing confusion for potential buyers, the report said.
This isn't the first time we've heard of a growing rift between the two sides. Re/code's Kara Swisher first reported the situation earlier this month, and followed up later by saying that Mayer was not returning calls to potential buyers, slowing the entire sales process.
SunTrust analyst Robert Peck also wrote on Thursday that Yahoo is frustrating a lot of potential buyers by not actively engaging in talks for the sale of its core business, despite more than 20 parties expressing "significant" interest in it.
Yahoo said during its most recent earnings call that it would explore a possible sale of its core internet business, saying it would engage in "qualified strategic proposals." The company is under pressure by activist investors to make significant changes, including a sale of its core business and management overhaul.
As Business Insider previously reported, Yahoo started laying off its workforce this month, including the closing of five overseas offices. Earlier this week, it shut down a number of its content verticals and laid off dozens of writers and editors. It also announced that it would pull the plug on Yahoo Labs, its in-house research laboratory.
You can read the full Post article here.
SEE ALSO: A day after a 'blood bath' of layoffs, Yahoo CEO Marissa Mayer turns focus to mobile growth
Join the conversation about this story »
NOW WATCH: Here's Everything Yahoo CEO Marissa Mayer Just Said About Alibaba
Yahoo CEO Marissa Mayer is secretly pitching a "package deal" that would sell Yahoo's core business under the condition that she remain CEO, according to a report by the New York Post's Claire Atkinson and James Covert.
The deal is being pitched by Frank Quattrone, the famous banker Mayer has hired, the report said. It didn't say the number of interested parties in the Mayer-Quattrone deal, but noted that Yahoo has received over 40 "expressions of interest" for its core business so far.
The report is the latest development in a a tumultuous period at Yahoo. Some media reports have painted a picture of dysfunction within Yahoo's board of directors, as Mayer and some of the other directors each pursue different plans to sell the struggling company.
Yahoo recently formed an independent committee to explore the sale of its internet business, and hired Goldman Sachs, JPMorgan, and PJT Partners to represent the company in a potential deal. Mayer, on the other hand, is working with Quattrone.
Yahoo CFO Ken Goldman, during a talk at a tech conference held on Thursday, told investors that the reports of a rift are nonsense.
"I want to make it very clear that between management, Marissa, myself, the rest of the management team, and the committee, and the board, we're actually all aligned in terms of what creates the best shareholder value, and that will be the ultimate criteria of what we end up doing," Goldman said.
He continued, "I want to make it very clear the Strategic Review Committee has hired advisors. Those are the only advisors that are working on our collective behalf relative to the spin work and strategic alternative work. Period."
Yahoo is under pressure by activist investor Starboard Value to make changes across the company, including a the sale of its core business, an overhaul of management, and cuts to its cost structure. Starboard said in a letter earlier this year that it would launch a proxy fight if its demands are not accepted.
Yahoo is also playing with the idea of packaging its core business with its Yahoo Japan ownership stake for a potential deal, Bloomberg reported Thursday.
The month-long period to nominate new board members started last week, but there haven't been any submissions made yet. The Post report said that Yahoo's board will meet with Starboard for the first time next week.
Yahoo was not immediately available for comment.
Read the full Post report here >>
SEE ALSO: Yahoo CEO Marissa Mayer's fight to keep her job has begun — here's what could happen
Join the conversation about this story »
NOW WATCH: Katie Couric reveals what it's like to work with Marissa Mayer at Yahoo
It's going to warm up (eventually) and that means Wall Street will start leaving the trading floor for the golf course in the afternoons.
For right now, though, we expect they'll start switching the channel on trading-floor TVs to the Masters.
To commemorate the prestigious tournament, we combed through the past year's handicap data for some of the Street's biggest names on GHIN — a website run by the US Golf Association— to see how they stack up against each other on the course.
Some of these golfers are talented, while others could use a bit more practice.
Keep in mind, the higher the handicap number, the worse the player is.
Firm/Title: Tiger Management, founder/CEO
Where He's Played: Deepdale Golf Club, Piping Rock Club, National Golf Links of America, Sebonack Golf Club and Shinnecock Hills.
Last Golf Outing: September 2015
Firm/Title: Invemed Associates
Where He's Played: Deepdale Golf Club, Sands Point Golf Club, Jupiter Hills Golf Club, and Wade Hampton Golf Club.
Last Golf Outing: March 2016
Firm/Title: Appaloosa Management, founder
Where He's Played: Crestmont Country Club and Lagorce Country Club
Last Golf Outing: August 2015
Frank Quattrone's Qatalyst Group just took the next step back toward Valley i-banking domination, as Frank's old partner, George Boutros (below), left Credit Suisse to join Frank again.
Look out, Morgan Stanley. Look out, Goldman. The old gang's back together again...
Bloomberg has more...
Legendary investment banker Frank Quattrone is apparently a super fan of the Philadelphia Flyers.
During last night's tough loss to the Chicago Blackhawks, Frank tweeted, "Come on Flyers, rally!" Steve Case retweeted Frank and appended the photo below.
Who knew Frank was so Flyered up? The Flyers are down 2 games to 0 in the Stanley Cup finals. The series shifts back to Philly, so hopefully they can even things up.
Right, Frank?
Frank Quattrone has been investing in technology companies since the 1970s, so when he makes a rare public appearance to comment on the current state of the industry it's worth taking a listen.
Today at the Web 2.0 Summit, he took a few minutes to comment on the current state of mergers and acquisitions. His company Qatalyst Partners has handled several recent high-profile buys, including Isilon's purchase by EMC and the eventual sale of 3PAR (after a bidding war that worked out very well for the company) to HP.
For the last 25 years or so, specialization has been the rule. Intel made chips, Microsoft made operating systems, EMC made storage, Oracle made databases and so on. So when startups were looking to be acquired, they generally had to stay within their sector, meaning you'd have one or two possible buyers.
The new leaders in the tech space, like Apple, Amazon, and Google, are much more comfortable going across sectors, and the old guard is following along--Oracle's trying to build an entire application stack through acquisitions. Consequently, if you're a networking company you're not just going to be bought by Cisco...you could be bought by Oracle, Dell, HP, or any of a half dozen other companies.
There's also a ton of cash sitting on big tech companies' balance sheets--Microsoft, Apple, and Google each have more than $20 billion. That's not earning any return for their shareholders.
In other words, look out for a continued acceleration in M&A in the tech sector, particularly in cloud computing and its relatives, like software-as-a-service and virtualization. As likely buyers, he mentioned HP, Dell, Google, and IBM--which has already said it plans to spend $20 billion on acquisitions by 2015.
There's no denying it. It's been one heck of a week for Frank Quattrone's Qatalyst Partners.
His boutique advisory firm, Qatalyst Partners, served as a deal adviser for both the Motorola Mobility proposed sale earlier this week to Google for $12.5 billion and the Hewlett-Packard's proposed $10.2 billion takeover yesterday of British software company Autonomy.
And it looks like the legendary Silicon Valley investment banker -- who experienced legal troubles in the past -- is experiencing a comeback on a whole other level.
Quattrone's Qatalyst is not only challenging major firms for deals, but it's beating them. Where was Goldman and JPMorgan for that Motorola Mobility/Google deal?
It's not surprising since Quattrone had quite a track record during his years at Morgan Stanley, Deutsche Bank and Credit Suisse.
During the tech boom of the 1990s, the technology-focused i-banker helped bring more than 175 companies public, including Amazon.com, Cisco and Netscape.
However, he had to sit on the sidelines when he became tied up in legal battles.
In 2003 Quattrone was charged with blocking an investigation of Credit Suisse's IPO practices. He was convicted on charges of obstruction of justice and later banned from the securities industry. Eventually he was exonerated on appeal in 2006. The SEC's ban was lifted on him in 2007 and all charges were dropped.
He went on to found Qatalyst Group in 2008. Google was one of the firm's first clients for its takeover struggle between Yahoo and Microsoft. However, that deal never actually happened.
Major deals for Qatalyst have included Data Domain's sale to EMC and device maker Palm's sale to Hewlett-Packard.
Quattrone began his career in banking in 1979 at Morgan Stanley. While at Morgan Stanley, he served as a managing director and head of global tech investment banking until his departure in 1996. He was later the CEO/founder of Deutsche Bank Securities. After his stint with Deutsche Bank Securities, he went to Credit Suisse as a managing director and technology group head until 2003.
He earned his Bachelor's degree in economics from UPenn's Wharton School of Business graduating summa cum laude in 1977. He received his MBA from Stanford in 1981.
