M&A Vet Joins Banc of America

Banc of America Securities has tapped Anthony J. Magro to head up its global m&a operations. Magro joined Banc of America from Bear Stearns & Co., where he had worked in m&a since 1993. “I believe the company is exceptionally well positioned to become a major player in m&a,” he says. Magro, a 1976 graduate of Dartmouth College, has more than 20 years of m&a experience. After college he entered a Chemical Bank training program. His resume includes eight years at Dillon Read and four years at Kidder Peabody, before he signed on at Bear Stearns. During his tenure at Bear Stearns, he worked on a number of high-profile deals, including Suiza Foods Corp.’s pending merger with Dean Foods Co., Infinity Broadcasting Corp.’s merger with Viacom Inc., Kellogg Inc.’s acquisition of Keebler Foods Co., and Pharmacia & Upjohn Inc.’s merger with Monsanto Corp. Magro talked with Mergers & Acquisitions magazine about his new responsibilities, touching first on the outlook for international deals, which he will oversee in his new job. He says there is no doubt that m&a activity will flourish in Europe as the countries finalize their economic union this January. He notes that there will be more pressure on companies to become more dynamic competitors as trade barriers fall and pan-European competition becomes a reality. The Banc of America dealmaker says that executives shouldn’t be too quick to draw negative conclusions from the European Union’s thumbs-down verdict on General Electric Corp.’s $42 billion bid to merge with Honeywell Inc. He says it would be a mistake to attribute the deal’s demise to political motivation on the part of European regulators. Based on his belief that the fallout from GE/Honeywell has been overblown by some observers, Magro notes that the decision could be the beginning of a move toward the development of a common approach to antitrust issues on both sides of the Atlantic. Turning his attention to his plans at Banc of America, Magro says that the critical objective he will pursue is the building up of client relationships. He believes that the bank’s plans to cross-sell a full range of investment banking services will be supported by its strong base of financial resources and the broadness of its points of client contact. He said that recent consolidations in the banking industry, such as the formation of Citigroup Inc. and the merger of Chase Manhattan Corp. with J.P. Morgan & Co., validate the financial services supermarket approach that Banc of America is also using as a blueprint. “We’ve seen m&a and investment banking as a whole become more institutionalized in recent years. The one-stop shopping approach is a model that serves clients well,” he says. Beyond the plan to cross-sell products, Magro adds that as a manager he is well aware that client relationships and internal organizational development are all about people. He plans to administer a group that provides people the flexibility to use their creativity, while maintaining an esprit de corps that will help maximize the group’s intellectual capital. Allen & Oliver – This New York-based law firm has added three m&a practitioners: Eric Shube, formerly of the law firm of Vinson & Elkins; Marun Jazbik, also from Vinson & Ellis; and A. Peter Harwich, formerly associate general counsel at Unilever Inc. Banc One Corp. – Lee M. Gardner has joined the bank as a senior partner in its private equity business. He had been COO of MascoTech International. Carl Marks Consulting Group – Warren Feder, formerly of Stepping Stone Capital, was named a principal at Carl Marks Capital Advisors, a newly formed provider of advisory services for troubled middle-market companies. Courtney Group – John Appel has joined this New York-based m&a advisory firm as a managing director. He is a co-founder of Tira Capital, a Silicon Valley venture fund. Financo Inc. – Robert M. Miller was named president of Financo Restructuring, the firm’s newly created restructuring advisory division. He had managed the bankruptcy practice at Berlack, Israels & Liberman, a New York-based law firm. First Union Securities – The firm has hired three senior bankers into its health care investment banking group. Allan Rimland has joined as managing director, Charles Baltic has joined as a director, and Douglas Brown comes aboard as VP. Rimland and Baltic are based in the firm’s New York office and Brown works in Charlotte, N.C. Rimland had been a managing director in the health care investment banking group at Banc of America Securities. Baltic worked at SG Cowen as a director in the firm’s health care investment banking division. Brown joined First Union from Comdisco Ventures, where he had been a director specializing in health care. Fox-Pitt, Kelton Inc. – Bart T. Zanelli has joined the firm’s investment banking group as a director specializing in the insurance industry. He returns to the firm after working for five years in private equity. He most recently served as managing director and head of private equity, specializing in insurance, at Firemark Group in Morristown, N.J. Gerard Klauer Mattison – Kenneth Lerner has joined the health care investment banking group at this investment banking company. He is a veteran of Vector Securities and Prudential Vector Healthcare Group, where he originated and executed m&a and corporate finance transactions in the life sciences sector. Houlihan Lokey Howard & Zukin – Amit R. Patel was named VP in this investment bank’s Los Angeles office. He had been a VP at Pram Filtration Corp. King & Spalding – Mitchell Sonkin and Lawrence Larose have joined this Atlanta-based law firm. They had been restructuring partners at Cadwalader, Wickersham & Taft, a law firm. LaSalle Corporate Finance – Michael Bastian has been hired as a managing director at this Chicago-area financial services firm. He had been a VP at Merrill Lynch & Co., working in the firm’s middle-market m&a advisory group. Lazard – Laurence Grafstein has joined the firm as a managing director and head of its global telecommunications investment banking and financial advisory practice. Formerly, he had been head of the global telecom division at Credit Suisse First Boston. Orrick, Herrington & Sutcliffe – Peter J. Connors, a former co-chair of the tax department at law firm Baker & McKenzie, has joined the tax practice in Orrick, Herrington’s New York office. Also joining the firm, as a partner, is Keith Cochran, formerly general counsel at Terabeam Corp. He will work on m&a, compliance, and other issues, in the firm’s Seattle office. Rothschild North America Inc. – Randy Hazelton has joined this investment bank as a managing director. Hazelton had been head of the chemicals group at Credit Suisse First Boston. At Rothschild, he will advise on m&a, restructuring, and private equity transactions. Shipman & Goodwin – James C. Schulwolf has joined this law firm as a partner. He had been a partner at Pepe & Hazard, another Hartford, Conn.-based law firm. Vinson & Elkins – Tom Mason has joined this Houston-based law firm’s Austin, Texas, office where he will concentrate on m&a, venture capital, and public offerings, particularly in the energy and biotechnology sectors. He had been a partner at Brobeck, Phleger & Harrison, an Austin-based law firm. USBX Inc. – Paul Dippell has joined USBX as VP of the firm’s information technology practice, and Brennan Libbey has joined as VP of the firm’s plastics and technology division. Dippell had been VP of m&a at All Bases Covered, an information technology company, while Libbey most recently led m&a activities at Whittman-Hart Inc., a technology services company. USBX is a middle-market m&a advisory firm. Dailey Capital Management – Jeffrey S. Muti has joined this private equity firm as a managing director. He had held the same title at Lincolnshire Management Inc., a private equity firm. Jerusalem Venture Partners – This communications venture capital firm has appointed two new members to its New York office. Zeljka Matutinovic has joined as general partner and Michael Carus has been appointed COO and CFO. Matutinovic had been the managing director at International Real Returns, an investment fund. Carus had been EVP, CFO, and COO of Fundtech, a Jerusalem Venture Partners portfolio company. Linsalata Capital Partners – Stephen B. Perry was promoted to SVP at this Cleveland-based private equity group. Additionally, Mark A. Kirk has joined the firm as SVP. He had been CEO of Scott Technologies Inc. McDonald Investments – David M. Powlen was named managing director and co-manager of this investment banking firm’s restructuring group. He had been a partner at the Indianapolis-based law firm of Barnes & Thornburg. Calpine Corp. – Carolyn W. Marsh has been named SVP of corporate acquisitions at this independent power company. She has 15 years of experience in the energy industry. Prior to joining Calpine, she was a VP at Reliant Energy, where she was responsible for acquisitions and project development. Mail-Well Inc. – The company has announced that Herbert H. “Woody” Davis III has joined as SVP of corporate development and chief legal officer. He will focus on m&a projects. Davis previously had been a senior partner in the Denver-based law firm of Rothgerber Johnson & Lyons, where he will remain of counsel. Mail-Well provides mailing materials printing services. Federal Trade Commission – Susan A. Creighton, formerly a partner at the Palo Alto, Calif.-based law firm of Wilson Sonsini Goodrich & Rosati has joined the Commission as deputy director of the bureau of competition.