Press Release: February 25, 2002
WR Hambrecht + Co Announces Will McDermott and Paul Wessling to join as Senior Managing Directors of Equity Sales
San Francisco, CA, February 25, 2002WR Hambrecht + Co today announced that William S. McDermott and Paul V. Wessling have joined the financial services firm as Senior Managing Directors of Equity Sales.
I am delighted that Will and Paul are joining our firm, said Bill Hambrecht, Founder and CEO of
The timing certainly feels right for a highly-specialized financial services firm with a focus on the evolving areas of the traditional growth sectors, especially a bank with a capital raising differentiator like the auction process, said Will McDermott. Bill Hambrecht understands this area as well, if not better, than anyone and I look forward to helping make WRH+Co the very best of its breed.
There is a substantial unmet need in the capital markets for a financial services firm with a focus on all areas of emerging growth, said Paul Wessling. There are many fine companies needing to raise capital and the institutional community is very vocal about its desire for research on these companies. WRH+Co is well positioned to meet this need and it will be a great pleasure to work with Bill again.
Prior to joining WR Hambrecht + Co, William S. (Will) McDermott was Managing Director and head of U.S. Equity Institutional Sales at J.P. Morgan Chase & Co. (JPM) until his departure in October 2001. Previously, Mr. McDermott had been Managing Director and Head of Equity Institutional Sales at legacy J.P. Morgan firm Hambrecht & Quist, which he joined in 1995. Mr. McDermott, a 22-year veteran of the securities business in London and New York, will be based in New York.
Paul Wessling, who has had 30 years of experience in the securities industry, will be based in Boston. Mr. Wessling was Managing Director and head of the Boston office for J.P. Morgan Chase and its predecessor firm, Hambrecht & Quist, which he joined in 1992.