Alex. Brown to open brokerage in Tokyo

June 23, 1994|By David Conn | David Conn,Sun Staff Writer

Alex. Brown Inc., hoping to win a larger share of the burgeoning Pacific Rim investment banking market, yesterday announced it has opened an office in Tokyo, its third and probably last overseas location for the near future.

The office is headed by Atsushi Abe, a Tokyo native who has worked on Pacific Rim transactions in Alex. Brown's San Francisco office for 1 1/2 years.

Mr. Abe, 40, will focus on investment banking and mergers and acquisitions work. He plans to hire an institutional salesperson and a retail analyst by the end of the year, according to Alex. Brown.

"We are well-positioned to help our U.S. client base access private capital in the Pacific Rim as well as provide Pacific Rim companies with advice about strategic alliances in the U.S. and access to U.S. markets," Gar Richlin, managing director and head of investment banking, said in a statement.

Mr. Abe said the company has strong prospects in three of its seven industry focus groups: technology, health care, and media and communications. Already the company has represented Far East firms in a number of deals, including:

* Nippon Telegraph & Telephone's $75 million investment in Nextel Communications in January;

* Two public offerings by Singapore-based Creative Technology last year and in 1992, totaling $158 million;

* An $80 million investment by Nippon Steel in a joint venture with Oracle Corp. in 1991.

Before joining Alex. Brown last year, Mr. Abe held various positions in Japan and the United States for Mitsui & Co. Ltd., ultimately heading the company's electronic business development department.

The Tokyo office is Alex. Brown's third overseas, following London and Geneva, and the 23rd worldwide.

The Baltimore-based company, which has about 2,200 employees, probably will not add any more locations abroad for the foreseeable future, according to a spokeswoman.

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