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.

Quattrone has led technology groups at those three firms, and is known for taking almost 200 companies public during the 1990s dot-com boom including Cisco Systems Inc. and Inc. He founded Qatalyst in 2008, and the firm’s deals include Hewlett-Packard Co.’s $10 billion takeover of Autonomy Corp. in 2011, and Google Inc.’s agreement to buy Motorola Mobility Holdings LLC that same year.

“George and I have been partners and close friends since we started working together in 1992, and he has made an outsized contribution to Qatalyst’s success.” Quattrone said in the statement. “George is one of the most talented, experienced and accomplished M&A advisers on the planet.”

Qatalyst also named Jason DiLullo and Jonathan Turner co- presidents.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.