Investment Bank Will Focus on Tech, Media

Thomas Weisel, former head of NationsBanc Montgomery Securities, opened a new investment bank to focus on such industries as technology, media and health care.

Weisel, 57, said he hired 90 people, including 35 partners, to join Thomas Weisel Partners. About half of the staff is from BankAmerica Corp.’s investment banking arm, NationsBanc Montgomery, from which Weisel resigned in September.

His firm has raised about $65 million in capital, Weisel said. The company already has six clients looking to make equity offers, and it plans to begin trading for institutional clients on Feb. 1, he said. A private venture fund of $500 million to $1 billion also is planned.