Allen & Co., the boutique investment bank known for its annual conference in Idaho’s Sun Valley, hired Bank of America Corp. veteran Scott Bacigalupo to expand its stock-trading business, people with knowledge of the matter said.
Bacigalupo, 43, joined the closely held firm in June as a managing director after 21 years at Bank of America, said the people, asking to not be identified discussing personnel. He had led cash equity sales and trading for the Americas before leaving the bank in March.
Allen & Co. specializes in advising media and technology firms on public offerings and acquisitions, including Facebook Inc.’s purchase of WhatsApp last year for about $22 billion. Despite having only about 180 employees, the New York-based firm ranks 15th in U.S. mergers this year. It helps companies sell stock to investors and is expanding its equity-trading operations to further service clients, the people said.
Kim Wieland, chief financial officer of Allen & Co., didn’t immediately return messages seeking comment.
Allen & Co.’s annual media conferences, held since 1983, have drawn industry leaders including Google Inc. Chief Executive Officer Larry Page, Facebook CEO Mark Zuckerberg and Microsoft Corp. co-founder Bill Gates.