Facebook's Banker Dream Team Grows
It's another week, and another 25 banks have joined the Facebook's initial public offering party, bringing the grand total of financial backers to 31.
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Whoa whoa whoa -- Why on Earth does Mark Zuckerberg and company need nearly three dozen banks to prepare its stock offering? First of all, keep in mind that this is also a brand-building exercise for Facebook, so it's chosen to stack its list with minority and women-owned banks. Second, it's a big IPO, and according to Dow Jones, "It's not unusual for 25 to 30 banks to work on large offerings such as Facebook's." So why not offer a long and diverse roster of players to choose from? Facebook's army of bankers looks like this:
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The Original Six:
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Morgan Stanley
JPMorgan Chase
Goldman Sachs
Bank of America
Merrill Lynch
Barclays Capital
Allen & Co.
The Blithe Twenty-Five:
Citigroup
Credit Suisse Group
Deutsche Bank
RBC Capital Markets
Wells Fargo
Blaylock Robert Van
BMO Capital Markets
C.L. King & Associates
Cabrera Capital Markets
CastleOak Securities L.P.
Cowen & Co.
Lazard Capital Markets
Lebenthal & Co.
Loop Capital Markets
M.R. Beal & Co.
Macquarie Capital (USA) Inc.
Muriel Siebert & Co.
Oppenheimer & Co.
Pacific Crest Securities
Piper Jaffray & Co.
Raymond James & Associates
Samuel A. Ramirez & Co.
Stifel, Nicolaus & Co.
The Williams Capital Group
William Blair & Co.
