Why Bankamerica Got Hitched In A Hurry

Rivals were snapping up investment boutiques, and Robertson Stephens was a good fit

On Sunday, June 8, most of the 66 partners from investment bank Robertson, Stephens & Co. streamed into San Francisco's tony St. Francis Yacht Club. With the Golden Gate Bridge in the distance, they had come to finalize BankAmerica Corp.'s $540 million purchase of the San Francisco-based firm. In one room, lawyers worked feverishly to wrap up employment agreements with Robertson partners and other key personnel. In another, cocktails flowed as the investment bankers and senior BankAmerica executives toasted their newly minted partnership.

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