Montgomery & Co. Exits Advisory Business

Montgomery & Co., the investment banking firm which got its start in Los Angeles focusing on high tech companies--and as a onetime venture capital investor--has exited the investment banking and advisory business, the firm said today. The firm, which is now based in San Francisco but still had a big market presence in Los Angeles, is transferring 13 investment banking professionals to Signal Hill. Montgomery said it has decided to "concentrate on its asset management business." Montgomery's current investments in Southern California includes such firms as FindTheBest, Specific Media, and Vantage Media. The move represents a return to Montgomery & Co.'s roots as an investment firm. The company has been well known in recent years for its technology conferences in Santa Monica.