Wedbush Morgan Securities and Pacific Growth Equities Join Forces

Mon Jan 12, 2009 6:34am EST

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The Combination of Pacific Growth into Wedbush`s Capital Markets Group Creates
the West Coast's Preeminent Investment Banking and Institutional Brokerage Firm
LOS ANGELES--(Business Wire)--
Wedbush Morgan Securities, the largest securities broker-dealer headquartered on
the West Coast, announced today that it has entered into an agreement to acquire
the business assets of Pacific Growth Equities, LLC, an investment banking and
institutional brokerage firm based in San Francisco and specializing in emerging
growth companies in the life science and technology sectors. The transaction is
expected to close this February and marks the third acquisition for Wedbush in
six months. 

"This is a significant expansion for Wedbush`s Capital Markets business, an
important growth area of our Firm. I am very pleased to partner with the high
quality professionals at Pacific Growth and look forward to working together to
continue to expand and improve capital markets services for clients," said
Edward Wedbush, President and Founder of Wedbush Morgan Securities. 

Founded in 1991, Pacific Growth Equities consists of more than 75 investment
banking, sales and trading, and research professionals, substantially all of
whom are expected to join Wedbush`s Capital Markets Group. The Firm`s current
leaders, Richard Osgood, Chairman and Founder, Thomas Dietz Ph.D., Co-CEO, and
Stephen Massocca, Co-CEO and Founder, will assume senior leadership roles at
Wedbush and will report to Gary Wedbush, EVP & Head of the Capital Markets
Group. Wedbush currently has 18 analysts publishing research on the consumer,
media and entertainment, technology, and industrial sectors and is the number
one ranked firm in trade execution and processing on the NASDAQ exchange, as
well as the number one ranked liquidity provider. 

Pacific Growth adds 12 publishing analysts to the Wedbush research team and
provides complete vertical coverage in emerging growth Life Sciences and
augments Wedbush`s technology and consumer practices. The Firm has completed
over 70 capital raising transactions since 2005, raising approximately $5
billion with over 30 of these being lead managed. "We are extremely proud of
what the team at Pacific Growth has accomplished over the last 18 years, but
feel that the additional scale, infrastructure, expertise, and capital that
Wedbush brings will enable us to serve our clients even better in an environment
where many of our competitors are in turmoil," said Rick Osgood. 

Gary Wedbush said, "We couldn`t find a more strategic complement to our current
capital markets operations at Wedbush. Pacific Growth immediately adds a
world-class life science franchise to our equities efforts, a sector we`ve been
seriously eyeing for growth for some time, as well as brings significant capital
raising experience and expertise to our investment banking practice. The
cultures of our respective firms are a great fit, and I could not be more
excited to partner with the Pacific Growth team." 

"The combined strengths of Wedbush`s leadership in the brokerage industry and
our capital markets and investment banking expertise, particularly in the Life
Sciences, will allow us to provide our clients with the very best of advice and
execution capabilities," said Tom Dietz. "Wedbush`s balance sheet allows us to
offer incredible flexibility to our clients to respond to the challenging
capital markets with new and innovative structures." 

About Pacific Growth Equities, LLC

Founded in 1991, Pacific Growth Equities is an investment bank specializing in
and focused on emerging growth technology-based companies. With offices in San
Francisco, Boston, and New York, the Firm's principal areas of focus are within
the life sciences and technology sectors as well as identifying special growth
situations. Employee owned, Pacific Growth Equities offers a full range of
investment banking and brokerage services including public equity offerings,
private equity offerings, proprietary sell-side research, and M&A and strategic
advisory services. (www.pacgrow.com) 

About Wedbush Morgan Securities

Founded in 1955, Wedbush Morgan Securities is a leading financial services and
investment firm that provides private and institutional brokerage, correspondent
clearing, investment banking, equities research, public finance, fixed income
sales and trading, and asset management to individual, institutional and issuing
clients. Headquartered in Los Angeles, with over 80 sales offices and over 100
correspondent offices nationwide, Wedbush focuses on client financial safety,
continuity, and advanced technology. (www.wedbush.com) 



Wedbush Morgan Securities
Natalie Taylor, 213-688-8008
natalie.taylor@wedbush.com

Copyright Business Wire 2009

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