BancBoston Robertson Stephens, a US investment bank dedicated to the hi-tech sector, has decided to expand its European presence, adding a Munich office to its existing one in London.
Germany was a natural choice for the next office after London, which opened in 1996 with a staff of ten and now numbers around 70, according to the managing director of RS’s European operations, Stephen Schweich. ‘Germany is our largest market in Europe, and we want to be closer to both the companies and the venture capitalists (VCs),’ Schweich explained.
That in turn determined the choice of Munich. ‘Around 40% of German technology companies come from Munich, and a lot of the big VCs, such as Apax, TVM and Technologieholding,’ said RS’s European MD. Robertson Stephens has already carried out 20 equity issues over the last year in Europe, including four initial public offerings on the Neuer Markt.
