Brown to expand ties with Israel Krongard, Shattuck to meet with Peres, business leaders

Investing

April 17, 1996|By Bill Atkinson | Bill Atkinson,SUN STAFF

Top executives with Alex. Brown Inc. are traveling to Israel next month to broaden business ties with executives of the country's burgeoning high-technology and health care industries, the company said yesterday.

A. B. Krongard, Alex. Brown's chairman and chief executive, and Mayo A. Shattuck III, president and chief operating officer, are to meet with Israeli Prime Minister Shimon Peres and Dov Lautman, the prime minister's special emissary for economic development.

"Obviously, this is a trip of some significance," Mr. Shattuck said.

"We want to be perceived as the premiere underwriter and adviser for high-tech and health care companies in Israel. The time has come to build stronger affiliations at the senior management level."

Executives with the Baltimore-based investment banking firm will visit business leaders and politicians in Israel from May 6 through May 9.

The meeting with Mr. Peres was arranged through Giza Group, one of Israel's leading private investment banking firms, Mr. Shattuck said.

When Alex. Brown officials meet with Mr. Peres, they expect to talk about how the company can link Israeli firms to U.S. capital markets, Mr. Shattuck said.

Alex. Brown, which had $809 million in revenues in 1995, is known worldwide for its expertise in taking high-tech and health care companies public. Last year, it managed 64 initial public offerings, tops in the United States.

R. William Burgess Jr., head of Alex. Brown's technology investment banking group, compared Israel to Silicon Valley in California and Route 128 in Boston, which have spawned some of the world's largest high-tech companies.

"My hope would be to do several initial public offerings a year for Israeli companies and several mergers and acquisitions," said Mr. Burgess, who will also make the trip.

Alex. Brown has been doing business with companies in Israel for at least five years.

Pub Date: 4/17/96

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