Kaufman Bros. LP, a minority-owned investment bank, ceased operations as of the end of January, according to a notice posted on its website. The firm had a small equity research team focused mostly on technology.
Kaufman was founded in 1995 and billed itself as “the country’s largest minority-owned and operated investment banking and advisory firm” focused on technology, media, telecommunications, green technology and health care.
The firm added 6 equity analysts beginning in 2010. Analysts were seasoned technology analysts averaging over 10 years experience. The roster of analysts and coverage can be found at http://www.kbro.com/EquityResearch/Overview/tabid/74/Default.aspx.
Kaufman Brothers joins Ticonderoga Securities and WJB Capital in closing during January. Combined, they have put 20 senior analysts out on the street. The failures underscore the pressure on all cash equity participants brought on by low commission volumes. If January is a harbinger for 2012, we have a rough year ahead.Subscribe to Integrity ResearchWatch by Email or in an RSS/XML reader