Frank Quattrone, the Wall Street veteran who founded Silicon Valley-focused investment bank Qatalyst Group, is stepping down as chief executive officer of the firm and promoted George Boutros to succeed him.

Quattrone, 60, will be executive chairman and “continue to focus on Qatalyst’s strategy, as well as on developing relationships with and advising its clients,” according to an e- mailed statement dated Tuesday from the San Francisco-based firm. Boutros, 55, has been with the company since 2010 and worked with Quattrone for more than two decades at Morgan Stanley, Deutsche Bank AG and Credit Suisse Group AG.

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