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Article: Critical moment for Wm. Blair. (William Blair and Co. L.L.C.'s low earnings for 1997)
- Article from:
- Crain's Chicago Business
- Article date:
- April 6, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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As challenges rise, can it change its pinstripes?
For 60-plus years, William Blair & Co. had a simple creed: The investment banking firm would make money for its blue-chip clients, and Blair's own bottom line would take care of itself.
By that relaxed measure - and others - 1997 was disappointing for the La Salle Street institution, which prefers the term "challenging" in its latest annual review.
With the market booming, new equity raised for Blair customers fell by $500 million, to $3 billion. The decline in initial public offering (IPO) proceeds was even sharper. Blair took the lead in managing only three IPOs - and two of them bombed.
In ...