EDITED BY STEVE MALANGA
Fahnestock & Co.'s rock'n'roll
investment banker now has a solo act.
David Pullman, the brains behind David
Bowie's 1997 bond offering, has renamed his structured asset sales unit The Pullman
Group. The group will now operate autonomously, though it remains a Fahnestock
subsidiary.
"It's about branding," says Mr.
Pullman. "Everyone knows us by name, and that's why we thought it would make
more sense to be independent."
These are heady times for the 36-year-old
Wharton grad. Mr. Pullman just recruited veteran music executive Billy Mishel from
Arista/BMG to run his Los Angeles office. Mr. Mishel will seek out artists
interested in using capital markets to cash in on their future earnings.
Mr. Pullman also wrapped up the long-awaited
encore to his Bowie deal. Last month, Fahnestock sold $30 million in Bonds backed by
royalties of songwriters Brian Holland, Edward Holland and Lamont Dozier. The trio
wrote some 300 Motown favorites, including "Ain't Too Proud to Beg," "(Love
is Like a) Heat Wave" and "Stop! In the Name of Love."
Crain's New York Business. July 20-26, 1998.