Wednesday, September 8, 2004

FRANK QUATTRONE SENTENCED TO 18 MONTHS... FALL OF BOOM TIME ICON

CSFB's Frank Quattrone was to investment banking what Morgan Stanley's Mary Meeker was to equity research during the boom times. He led several high-fliers, such as Amazon.com, Cisco, and Netscape, to the public markets and major acquisition deals.

Quattrone became a target of the government for the excesses of the Internet bubble, and they starte to probed into supposed kickbacks he received from CSFB's favored clients in exchange for getting shares of hot IPOs. His downfall was an email:

The Quattrone case turned on a 22-word e-mail that Quattrone forwarded to CSFB bankers on Dec. 5, 2000, encouraging them to "clean up" their files before the holidays. (full article)

Older commentary and opinion from News.com's Charles Cooper, "Scapegoats on Trial."

UPDATE: Just visited Chris Nolan's site and she has a lot more on Frank Quattrone. Some great articles from the past for background info.

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