Pacific Crest Securities Explained

Pacific Crest Securities
Type:	Private company
Industry:	Financial services
Founder:	George Edward Glass
Fate:	Acquired
Successor:	KeyBank's investment banking unit, KeyBanc Capital Markets (KBCM)
Hq Location City:	Portland, Oregon
Hq Location Country:	United States
Area Served:	Worldwide technology sector
Key People:	Scott Sandbo (CEO), Daniel Shank (CFO/COO)
Products:	Investment banking, Equity Investments (research, sales, and trading)
Num Employees:	170
Num Employees Year:	2015

Pacific Crest Securities was an American independent investment bank initially based in the Pacific Northwest region.^{[1] [2]} The bank focused on the global technology sector in institutional equities (research, sales, trading) and investment banking (mergers and acquisitions and public offerings).^{[3] [4]}

History

The firm was founded in 1990 initially focused on the Pacific Northwest region then in 1998 the firm shifted to focus solely on the global technology sector in institutional equities (research, sales, trading) and investment banking (mergers and acquisitions and public offerings). Scott Sandbo was chairman and CEO, George Glass was president. Pacific Crest was recognized by Institutional Investor and Greenwich Associates for its technology research.^{[5] [6] [7]}

Pacific Crest was an active managing underwriter for technology initial public offerings including Alibaba,^[8] Facebook^[9] and Workday.^[10]

In 2010 Pacific Crest established an annual survey to provide benchmark information to private SaaS companies' operational and financial metrics.^{[11] [12]} The SaaS survey has become a standard for reporting growth rates, margins and customer acquisition data for private SaaS companies^{[13] [14]}

In 2011 Pacific Crest acquired Shanghai-based investment research firm, Pacific Epoch, from Goldman Sachs to provide data and perspectives on the dynamics impacting the technology landscape in China.^[15]

In July 2014, KeyCorp's investment banking unit, KeyBanc Capital Markets (KBCM), announced its intention to acquire Pacific Crest and Pacific Crest was merged into KBCM in 2015.^{[16] [17]}

At the time of the acquisition, Pacific Crest Securities had 170 employees in their offices worldwide.^[18]

Notes and References

1. Web site: BrokerCheck - Find a broker, investment or financial advisor. 2020-10-16. brokercheck.finra.org.
2. Web site: Pacific Crest Securities Llc SEC Registration. 2020-10-16. sec.report.
3. Web site: Veverka. Mark. Fewer, Cheaper Exits for Tech. 2021-04-27. www.wsj.com. en-US.
4. Web site: 2000-05-06. Institutional clients eat up Pacific Crest research. 2021-04-27. www.bizjournals.com.
5. Web site: Pacific Crest Securities among 'best of boutique'. 2020-09-16. www.bizjournals.com.
6. Web site: The sunny side of the Street. 2020-09-16. Institutional Investor. en-gb.
7. Web site: Concentrated effort: The best of the boutiques and regionals. 2020-11-21. Institutional Investor. en-gb.
8. Web site: 424(B)(4). 2021-10-29. www.sec.gov.
9. News: 2012-03-08. Facebook adds 25 more underwriters for IPO. en. Reuters. 2021-10-29.
10. Web site: Form S-1. 2021-10-29. www.sec.gov.
11. Web site: Skok. David. 2016-10-17. 2016 Pacific Crest SaaS Survey – Part 1. 2021-04-27. For Entrepreneurs. en-US.
12. Web site: Columbus. Louis. Lessons Learned From The 2013 Pacific Crest SaaS Survey. 2021-06-28. Forbes. en.
13. Web site: SaaS Results and Benchmark Data from Pacific Crest OpenView Labs. 2021-06-28. OpenView. en-US.
14. Web site: 2015-12-03. Customer Success Takeaways from the Pacific Crest SaaS CEO Survey. 2021-06-28. Customer Success and Product Experience Software Gainsight. en-US.
15. Web site: Pacific Crest Securities Buys Shanghai-based Bank to Help Navigate the China Web Chaos. 2021-12-17. TechCrunch. en-US.
16. News: Johnson. Andrew R.. 2014-07-17. KeyCorp to Buy Pacific Crest Securities as Profit Rises. en-US. Wall Street Journal. 2020-12-17. 0099-9660.
17. Web site: Key locks up Pacific Crest Securities deal. 2021-12-17. www.bizjournals.com.
18. Web site: Gellner. Arrol. 2001-05-15. ARCHITEXT: Investment bank Pacific Crest Securities opens Boston office • Daily Journal of Commerce. 2020-12-18. Daily Journal of Commerce. en-US.