News

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CARIS & COMPANY AND M.M. DILLON & CO.
FORM JOINT VENTURE

            San Diego, CA March 2, 2011– Caris & Company and M.M. Dillon & Co. announced today that the two Wall Street firms have formed a joint venture, Caris Dillon, exclusively pairing Caris’ award winning research with Dillon’s world class Investment Banking and Advisory team. This unique strategic alliance is designed to benefit growth companies and investors in the critical capital formation cycle.

            “The team at Dillon has long been heralded as one of Wall Street’s premier advisory groups. The ethics, pedigree, domain expertise, and relationships that comprise the fabric of Dillon make for a perfect complement to our research oriented business,” said Darren Caris, Chairman and CEO of Caris. “Our goal is to expand both of our platforms to bring our corporate and institutional clients a new level of depth of service; objective in our advice, unparalleled in our industry and market knowledge, highly focused on the markets that we serve and, importantly, with a global reach. We will with Caris Dillon be the boutique alternative to the bulge bracket.” Mr. Caris added that the two firms plan to fill a massive void on Wall Street by offering a highly ethical, concentrated, yet comprehensive solution to institutional clients looking for independent advice and corporate clients who desire comprehensive solutions to their capital formation and advisory needs.

            Dillon Chairman and CEO, Michiel McCarty, added “I have worked to build multiple boutiques in my 35 years on Wall Street and the opportunity with Caris Dillon excites me more than all the others combined. Caris has perfected the truly independent focused research platform in a manner unseen for 25 years, creating a must read analysis for institutional investors in technology and healthcare. Dillon’s success in becoming a trusted advisor to CEOs and boards in these two important sectors of healthcare and technology perfectly complements the Caris research-centric platform. The ultimate beneficiaries of this unique blend of two unbiased providers of critical advice will be the growth companies desperately in need of capital and their providers the institutional investors.”

            Mr. McCarty added, “Wall Street has evolved over the last few decades into giant monolithic institutions that are designed principally for the benefit of themselves rather than for the enhancement of their clients. I view this new venture, Caris Dillon, as a unique combined platform designed and implemented to bring the focus back to the capital formation mechanism for growth companies so important for our economy. In a way, this Caris Dillon venture is returning to the original roots of investment banking as practiced by such luminaries as: Sigmund Warburg, Clarence Dillon, Bill Hambrecht and Sandy Robertson.”

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