Weak IPO market spurs investment bank layoffs
When a bloated William Blair & Co. recalled former managing partner Edgar D. Jannotta to active management in March, it said so in a three-sentence blurb issued to the press at the unfashionable hour of 6:29 p.m.
The news, of course, did not get major play - as the publicity-shy investment bank prefers. Mr. Jannotta, Blair's 70-year-old major-domo, was given the new title of chairman and the novel challenge of divining what once came naturally to the 66-year-old LaSalle Street institution: printing money.
I
Learn more about reprints and licensing for this article.
