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Craft Resigns From Online Investment Bank

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Bloomberg News

EOffering Inc.’s research director, Gary R. Craft, has left the Newport Beach online investment bank for personal reasons after less than four months.

Craft, 40, didn’t elaborate Thursday on why he quit EOffering, which is 28%-owned by ETrade Group Inc., the No. 2 Internet brokerage.

He joined EOffering April 15 after 2 1/2 years of researching Internet financial services companies such as CheckFree Corp. and Knight/Trimark Group Inc. for BancBoston Robertson Stephens.

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“EOffering is off to an excellent start and could become a meaningful player in online investment banking,” Craft said in an interview. He said he’s “evaluating opportunities.”

Closely held EOffering said Craft acted as research director along with Andrea Williams, who had worked as a Volpe Brown Whelan analyst, though the job hadn’t been filled permanently. The firm has five analysts.

EOffering was started in January by Walter Cruttenden III, founder of the Los Angeles securities firm Cruttenden Roth, and Sandy Robertson, founder of BancBoston Robertson Stephens, which is now part of BankBoston Corp.

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