JMP Group posts 27 percent revenue growth
San Francisco Business Times - by Mark Calvey
JMP Group, the parent of San Francisco emerging growth investment bank JMP Securities and JMP Asset Management, reported total revenue of $94.7 million for 2005, up 27 percent from 2004's $74.8 million in revenue.
Last year's results reflect the sixth consecutive year in which JMP Group's revenue has grown 27 percent or more.
The privately held firm does not release profit figures.
But the robust revenue growth offers insight into how well the new generation of investment banks focused on emerging growth companies are doing.
"JMP Securities had a phenomenal year in 2005," said Craig Johnson, president of the firm.
At the end of last year, JMP Securities had 20 senior research analysts covering 294 stocks, up from 198 companies covered a year earlier.
JMP added three senior research analysts to expand its coverage of the Internet, health-care services and medical-device sectors. The firm has a research team of 37 professionals.
In 2005, JMP closed 72 investment banking transactions representing more than $9.2 billion in total value, compared with 55 transactions for a combined value of $5.6 billion in 2004.
Thomas Weisel Partners (Nasdaq: TWPG), which went public in February, recently said that net revenues in 2005 reached $250.9 million and a net loss before preferred dividends and accretion of $7.1 million.
The firm bolstered its health-care practice last year with the hiring of five health-care investment bankers.
Weisel also expanded into Mumbai, India, where it has a team of analysts developing a new research product on covering U.S. small-cap companies within the firm's research universe.
"Looking forward, we are optimistic that trends in the marketplace, combined with building out our non-tech business lines, will drive improved earnings leverage in the future," CEO Thomas Weisel said.
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