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Rating:Odd Lots,  Feb. 12, 1999 Not Rated 3.0 Email Routing List Email & Route  Print Print
Friday, February 12, 1999

Odd Lots, Feb. 12, 1999

Reported by Jason Shank

Don't look for more fund companies to go public following the lackluster performance of Gabelli's IPO yesterday, argues Beth Peskora in the NY Post. She bases her conclusion on the fact that the "much-anticipated IPO" barely moved from its IPO price of 17, to 17 13/16 -- a 1.79 percent gain.

"The poor first day showing of Gabelli Asset Management may discourage other money management firms that were gauging investor interest in their sector with the Gabelli offering," wrote Peskora.

Things are shaking at San Francisco-based BankAmerica. Today's San Francisco Chronicle reports that Michael O'Neill, formerly number two at BofA will resign next month to take the top job at Barclays, Britain's second-largest bank.

His widely expected departure follows that of David Coulter, the company's former chairman and chief executive, who left the bank in October, after Charlotte-based NationsBank and the BofA merged.

That's not all going on at BofA. Mark Veverka's column in the Chronicle reports that San Francisco-based Montgomery, a unit of BofA, hired two investment bankers from Morgan Stanley Dean Witter in New York. The hires are meant to give the investment bank's health care practice a "booster shot", Veverka writes.

The two hires are Brian Brille, the head of Morgan Stanley's health care services group and Charles Ditkoff, who will report directly to Brille. Both will remain in New York.

The column adds that Jeff Child -- the acting head of the investment bank's health care group has been reassigned to a position in Montgomery's equity markets group.

Today's Fund Track column in the Wall Street Journal reports on the recent troubles of Julian Robertson's Tiger Management hedge fund firm.  

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