Banker Cruttenden Roth Says It Will Change Name

Newport Beach investment banking firm Cruttenden Roth Inc. said Friday that it will change its name to Roth Capital Partners Inc. to reflect changes in its management. The company’s founder, Walter Cruttenden III, departed two years ago, and Byron Roth, the chief executive, has taken control of the company. Roth is expected to announce the name change Tuesday at the company’s 12th annual growth stock investment conference. The company, which specializes in underwriting public offerings of small-cap companies, also is planning to change its ownership structure to a limited liability company, which is owned almost entirely by employees, Roth said. Roth, 37, became president in 1993, chief executive in 1997 and took over as chairman from Cruttenden in 1998. Cruttenden, who sold part of his stake to Fidelity National Financial Inc., now owns about 10% and is the only nonemployee owner at the firm. Last year, Roth filed a lawsuit against Cruttenden, alleging the former chairman stole clients when he left. Cruttenden denied the allegation.