Montgomery: Too Much, Too Soon?

For Montgomery Securities, the 1990s have been the gold rush years. The 25-year-old San Francisco investment bank, which caters to growth companies often too small for the big Wall Street firms, is riding two of the major booms of the decade: the surge in initial public offerings and the explosion of the mutual-fund business. Its annual growth-stock conference, which attracted 1,000 brokers, managers, and other investment pros last month, has become the biggest such gathering since Michael Milken's Predators' Ball. The fast-moving, privately held firm, which at the turn of the decade had just $100 million in revenue, expects to gross $400 million this year--and is shooting for $1 billion by 2000.

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