Word: bancamerica
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...Frates '89, vice president of BancAmerica Robertson Stephens, shared his insider knowledge of the investment-banking trade and of the intricacies of the recruiting process with a group of Harvard students last night...
Frates spoke from personal experience. After two years at Morgan Stanley & Co., he started his job at Robertson Stephens, which recently merged with BancAmerica to become BancAmerica Robertson Stephens...
...third quarter Bancamerica had, with the aid of its 491 branches, outstripped Chase by piling up $4,750,000,000 in deposits, over $5,000,000,000 in resources...
...concern like Texas Co., genial Hearn Streat moved up through the ranks. He became a junior partner in 1920, same year Blair absorbed William Salomon & Co. In 1929, when Blair merged with the security affiliate of Bank of America (Manhattan's, not San Francisco's) to become Bancamerica-Blair Corp. Partner Streat's hair was thinning, his waist thickening, his friends spreading from coast to coast...
Last month Transamerica Corp., the vast holding company which sold its interest in Bank of America (Manhattan) in 1931, sold working control in Bancamerica-Blair to San Francisco Financier Ashby Oliver Stewart, who is now chairman of the board (TIME, Dec. 26). Obvious choice as active head of the firm was hard-working Hearn Streat, not only the employe with the longest service but credited in Wall Street as the underwriter with the widest acquaintance in the business. Last week he became vice chairman of the board and chairman of the executive committee. Simultaneously, Bancamerica-Blair resumed (subject to stockholders...