Key Departure at Cruttenden ‘Philosophical’

A key executive at Cruttenden & Co., Orange County’s largest investment bank, has left the firm reportedly because of philosophical differences.

Bradley Weddon, manager of retail sales for more than three years, reportedly left Cruttenden on Wednesday, just as the Irvine-based company is undergoing a major ownership shift.

Weddon did not return phone calls from The Times.

“We’ve parted company. There was a difference in general philosophy,” said Walter Cruttenden III, chairman and chief executive. “He didn’t quit, but it was a sort of parting of the ways.”

Cruttenden has not selected a replacement for Weddon, who, as branch manager of the Irvine office, supervised nearly 25 Cruttenden brokers.

“He’s a great guy and he’ll be snapped up. While he was here he grew the company in a lot of ways,” said Cruttenden.

Before being hired by Cruttenden in October, 1990, Weddon spent five years with Prudential-Bache Securities, according to the National Assn. of Securities Dealers Inc., an organization which regulates stock brokers.

Earlier this month, Cruttenden & Co. announced that its corporate finance chief, Byron Roth, 31, was promoted to president. Roth and two other executives are negotiating to buy 22% of Cruttenden from Vista Ventures, a Connecticut venture-capital firm. Walter Cruttenden, with a 35% stake, will remain the largest shareholder. He said Friday the deal was nearly complete.