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Would a smart man start a bank in the middle of the Depression? William Blair did, in 1935. Blair believed that, amidst the financial bloodletting of the 1930s, there was room for a conservatively financed firm with the most stringent of standards. His risk paid off, for six decades later, his Chicago-based business continues to thrive, stressing growth and long-term relationships. Throughout the years, William Blair has grown along with Chicago. By providing capital to local companies, William Blair has served to pump up the Midwestern economy, and has profited from their increased patronage in return. The firm still maintains business relationships dating from the 1940s. Although it continues to serve those longtime clients, it still is known for, and takes pride in, serving smaller "growth" companies, especially when it comes to taking those companies public. Although Blair once was dominant in Chicago-area investment banking, it is now reexamining its role in a world of bigger and bigger financial services companies. Although the firm has offices in London, Lichtenstein, Switzerland, and San Francisco, 95 percent of the firm's bankers still work out of Chicago. As an independent, mid-sized firm, Blair has been approached by larger financial services firms like First Chicago NBD for merger talks. The firm has hired Chicago consulting neighbor Arthur Andersen to help shape a long-term strategic vision. Although Blair saw its corporate finance volume increase 40 percent to $6.3 billion in 1997, its highest-profile business, IPOs, fell following a market trend -- the firm lead-managed only three initial offerings that year.
William Blair accepts applications both from recent graduates and from MBAs, and recruits on a continual basis. Resumes can be submitted by mail, fax and e-mail. All MBAs hired are expected to become associates at William Blair. The company looks for smart, dedicated people with high personal integrity who enjoy working in teams. Currently, the company is unable to receive applications via the Web.
William Blair's long-term perspective is reflected in its employees. "Conservative but employee-friendly," William Blair is "dedicated to its employees" and "has created and maintains a wonderful work environment" that "encourages everyone to work together for the betterment of the firm, which in the long run benefits each individual employee." Insiders attribute the team atmosphere to the fact the that William Blair is a private partnership, with over 150 employee/owners "who have equity ownership in the firm." Says one employee: "The best way to describe the people and the culture is that each person I come into contact with each day tries to make sure that any question or problem I have is answered, so that I continue to be educated in the business and that in the future I can be a better employee and co-worker." Hours and pay vary according to department, and "each has its own special flavor." William Blair has no "casual days;" "casual dress for men means a blue shirt," said one insider.
Patricia Aylward Human Resources 222 West Adams Street1 Chicago IL 60606
Securities underwriting;M&A advisory;Research;Venture capital
U.S. Bancorp Piper Jaffray;A.G. Edwards & Sons More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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