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Rising From the Rubble: New and expanding growthis sparking a trading revival in San Francisco. Pet

Traders Magazine, November 2002

Peter Chapman

The growth stock capital of the United States is rising again. After three years of plummeting stock prices, massive layoffs and brokerage house retrenchments, San Francisco is coming back. A slew of small and mid-sized investment banks is building up research, sales and trading in the city in a race to become Wall Street's dominant growth stock boutique. The flurry of activity comes as San Francisco's old guard dealing firms retreat from the city, the growth stock business and even corporate existence itself. Robertson Stephens went under this summer. J.P. Morgan Chase shut its Nasdaq desk. Bank of America hired a New York-based executive to run an equity trading operation out of the Big Apple.

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