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Firm adheres to a `Silicon Valley philosophy'
The top management of Hambrecht & Quist, underwriter of such IPO success stories as Netscape Communications Corp. and The Boston Beer Co., recently joined the ranks of Wall Street's multimillionaires-on paper anyway-following the firm's IPO.
Chairman William Hambrecht now holds about 2.9 million shares in the firm-a 13.1% stake following the IPOwhich now carries a market value of about $53 million. President and CEO Dan Case, a 9% stakeholder in the company, holds about two million shares, now valued at about $36 million. Hambrecht could not be reached for comment, and Case, citing the quiet period following the IPO, did not wish to comment.
Other big shareholders include: William Timken, vice-chairman, who owns a 7% stake worth $29 million; Paul Hallingby, head of institutional equity, who owns a 2.9% stake worth almost $12 million; and Cristina Morgan, co-head of investment banking, who owns a 1.8% stake worth over $7 million.
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