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Pacific Crest Securities Hires Two Former J.P. Morgan Executives; Additions Expand Silicon Valley Presence

Pacific Crest Securities Hires Two Former J.P. Morgan Executives; Additions Expand Silicon Valley Presence

Business Editors

PORTLAND, Ore–(BUSINESS WIRE)–April 3, 2002

Pacific Crest Securities, an investment bank specializing in technology and ranked among the top ten by Reuter’s for the quality of its equity research, has hired David Weir and Brent Smith to accelerate the expansion of its investment banking business.

Weir, who previously served as Co-Head of J.P. Morgan’s Technology and Telecom Investment Banking Group and Head of its Western Region will serve as Head of Investment Banking. Smith, who previously served as Co-Head of J.P. Morgan’s Emerging Communications practice will lead the Communications Investment Banking Group. They will be based in the firm’s Silicon Valley office.

“Both Dave and Brent played important roles in the development and rapid growth of J.P. Morgan’s investment banking business and, in particular, its technology and telecommunications investment banking practice,” said Scott Sandbo, CEO of Pacific Crest. “Their proven ability to build a high quality business through innovation and the delivery of clearly differentiated services will be instrumental in helping Pacific Crest achieve its next level of growth.”

“Pacific Crest’s dedicated technology focus, the resulting deep domain knowledge that exists throughout the firm and its recognized research strength positions us exceptionally well to grow our business as the market recovers,” said Weir.

Weir joined J.P. Morgan in 1982, became a vice president in 1987 when he assumed responsibility for the firm’s Midwest banking practice. In 1994 he was named a managing director and in 1996 became chief executive officer of J.P. Morgan Canada. He became Co-Head of the US technology and telecommunications investment banking group and head of J.P. Morgan’s western region in 1998.

Weir joined OffRoad Capital, an investment bank specializing in online private finance transactions, in May of 2000 where he served as Co-President and Co-Chief Executive Officer until his departure in May 2001. He holds a BA degree in government and legal studies from Bowdoin College.

Smith joined J.P. Morgan in 1986 in the New York M&A Group, and for seven years advised clients globally on acquisition, divestiture and financing strategies. From 1993 to 1998, he lived in Australia and Singapore where he was the head of several of J.P. Morgan’s advisory businesses in Asia. In 1998, Smith was named Co-Head of the US Emerging Communications Group based in San Francisco. In May 2000, he joined MegaPath Networks, a national business-focused broadband services provider, where he served as SVP, Head of Corporate Development and CFO until his departure in October 2001. He holds a degree in engineering and economics from Brown University and an MBA from UCLA.

Pacific Crest Securities

Pacific Crest Securities is a 90-person full-service investment banking boutique that specializes in serving the needs of technology companies and their institutional investors. Pacific Crest maintains offices in Portland, Silicon Valley, Seattle, and Boston.

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