Fox Pitt Kelton and Cochran Caronia Waller Say I Do


New York – In a merger that has been brewing since May 2007, Fox Pitt Kelton and Cochran Caronia Waller have tied the knot, effective September 4, 2007. The deal increases the analytical depth of the combined company, without diluting the focus of the research on the financial services industry.

Fox Pitt Kelton covers over 400 financial stocks globally with about 60 analysts, while Cochran Caronia Waller covers about 50 names domestically in the insurance industry. Both firms offer investment banking services.  In total the new company called “Fox Pitt Kelton Cochran Caronia Waller” will be a leader in the insurance and global finance industries research and investment banking areas.

The merger is beneficial for both firms, with Fox Pitt gaining deeper expertise in the insurance industry and Cochran gaining access to international markets.

We include the press release below:


Fox-Pitt, Kelton and Cochran Caronia Waller Complete Merger

London, New York and Chicago; September 4th, 2007 – Fox-Pitt, Kelton (“FPK”) and

Cochran Caronia Waller (“CCW”) today announced that they have completed their merger

thereby creating a leading global specialist investment bank focused on the Financial

Services industry. The combined firm will be known as Fox-Pitt Kelton Cochran Caronia

Waller. George Cochran and Len Caronia will assume the responsibilities of Co-Chairmen of

the combined firm. Giles Fitzpatrick remains CEO, and John Waller will become President of

the firm. Financial terms of the transaction were not disclosed.

The merger creates one of the strongest Financial Services specialists in investment banking.

As a combined firm, Fox-Pitt Kelton Cochran Caronia Waller significantly enhances its global

presence and its ability to provide clients with equity research and capital markets expertise

as well as industry-focused strategic advice. In addition the firm provides active research

coverage on approximately 450 financial services companies around the world.

About Fox-Pitt, Kelton

Founded in 1971, with offices in New York, Boston, Hartford, London, Hong Kong and Tokyo,

FPK is one of the leading specialist investment banks focused exclusively on the financial

services sector. The firm’s reputation has been built around its equity research team which

has consistently been recognized by institutional investors for its quality and independence.

FPK is also a leading underwriter of equity securities and actively serves as a strategic

advisor providing advice on mergers & acquisitions, corporate restructurings and equity

capital market transactions for banks, insurance companies and other financial services

companies around the world. For further information about FPK, visit its website at

About Cochran Caronia Waller

Cochran Caronia Waller is a full-service, independent investment banking firm specializing in

the property-casualty, life and health industries and related businesses. It offers clients

research, equity sales and trading, alternative capital-raising and mergers and acquisitions

advisory services. Headquartered in Chicago, with offices in New York, Cochran Caronia

Waller is consistently ranked among the leaders in insurance investment banking

transactions. For further information about Cochran Caronia Waller, visit its website at

For further information, please contact:

Fox-Pitt, Kelton: Lexa Hunt

44 (20) 7663 6001

Cochran Caronia Waller: William A. Hickey, Jr.

(312) 425 4725


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