may 5 final leerink swann saved as a 2003 file

MBA Executive in Residence Program May 2009

AGENDA

Industry Analysis Competitive Analysis Opportunities for

Leerink SwannGlobal and Domestic

Expansion Strategies

Marketing Strategy Map Summary Timeline

Analysis of Historicaland Current

Market Conditions

Current Economic Conditions Contracting Landscape Regulation Relationship vs. Transaction

based Management Strategy

INDUSTRY ANALYSIS

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

COMPETITIVE ANALYSIS Piper Jaffray and Co.

Cowen Group Inc.

Evercore Partners

Greenhill and Co.

Thomas Weisel Partners

In 2006, went public. Focused on global expansion in China and Japan.

Main Business in advising M&A’s . Went public in 2006. Expanded services to Tokyo, Japan. Majority stake in Iridium Communications.

Sector focus in Technology, health care, consumer & retail, aerospace & defense, and alternative energy. International locations in London, Geneva, Hong Kong, Geneva and Shanghai.

In 2006, went public. Recently expanded its industry focus to alternative energy, business services and industrial firms. Currently focused on growing its overseas operations in London, Shanghai and Hong Kong.

Sector focus in consumer, energy, healthcare, technology, media mining.

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

Global Expansion- Europe

Global Expansion- Canada

Domestic Expansion- New Jersey

OPPORTUNITIES FOR LEERINK SWANN

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

Opportunity #1 Global Expansion UK

Acquisition Target • Oakes, Lyman & Co,

Ltd.

Lift-Out Target• Piper Jaffray

LEERINK SWANN UK- London

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

LEERINK SWANN UK- LONDON

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

LEERINK SWANN UK- London

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

LONDON FINANCIAL MODEL

London Model 2009 - 2012 (values shown in US $)

Year 2010 2011 2012

Net Income (estimated) 1,500,000 1,605,000 1,725,000 1,800,000

Discount Rate 25% 1,435,555 1,234,309 1,030,380

11,369,454

Total Acquisition Cost 11,369,454 plus Buy-Out Premium (30%) 14,780,290

2009

Sum of Present Value of CF

* Estimated Net Income based on 2007 financials for Broadpoint Securities

Opportunity #2 Global Expansion- Canada

3rd Largest N. American Financial Market• TSX : $1 trillion market cap.

• TSX: Life Sciences mkt. cap $23 billion

Large Biotech Cluster• 100 medical / biotech companies

• $4 billion annual revenues

Skilled Labor Force Cultural Fit Low Cost of Operations

LEERINK SWANN CANADA- TORONTO

Industry I Competitive Analysis I Opportunities I Strategy I Marketing I Implementation

Top Ranked North American Financial Services Centers by

Employment

Region Employment

1. New York 507,800

2. Chicago 315,800

3. Toronto 230,400

4. Los Angeles 228,900

5. Philadelphia 178,400

6. Boston 174,400

7. Dallas 166,800

8. Atlanta 144,100

9. Minneapolis-St. Paul 133,000

10. Phoenix 129,600

Operations Costs: Shared Services Center

Market Size

1. Toronto $7,500

2. Philadelphia $8,517

3. Riverside San Bernardino $8,733

3. Chicago $8,763

4. Boston $8,791

5. New York $9,451

Sources: Statistics Canada. U.S. Department of Labor, Bureau of Labor Statisticshttp://www.greatertoronto.org/investing_sec_05.htm

Bloom, Burton & Co. Location: Toronto Canada

Largest Healthcare Banking Team

Only Boutique Healthcare Bank

15 years industry experience

ACQUISITION TARGET

Industry I Competitive Analysis I Opportunities I Strategy I Marketing I Implementation

CANADIAN FINANCIAL MODEL

Industry I Competitive Analysis I Opportunities I Strategy I Marketing I Implementation

Canada Model 2009 – 2012 (values shown in US $)

Year 2010 2011 2012

Net Income (estimated) 1,243,386 1,330,423 1,429,893

Projected Growth Rate 20%

Discount Rate 25% 1,112,118 951,973 818,519

Sum of Present Value of CF 6,668,649

Total Value of Report Unit 6,668,649 plus Buy-Out Premium (30%) 8,669,245

15%7%

* Estimated Net Income based on 2007 financials for Canaccord Securities

Opportunity #3 Domestic Expansion- NJ

New Jersey•Pharmaceuticals , Biotechnology, High Tech•Biological/life scientists, R&D, Innovation•Venture capital•Incentives

M&A Advisory Services

Healthcare IT Projects

LEERINK SWANN- NJ

Industry I Competitive Analysis I Opportunities I Strategy I Marketing I Implementation

Costs• New office facility• Strategic hires• Visibility

Gains• Build new alliances• Strengthen existing

relationships• Access to more deals,

higher value

Industry I Competitive Analysis I Opportunities I Strategy I Marketing I Implementation

LEERINK SWANN- NEW JERSEY

LEERINK SWANN- NEW JERSEY

Industry I Competitive Analysis I Opportunities I Strategy I Marketing I Implementation

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

NJ – Financial Considerations

$25/sq. foot

Min. 10 Employees

Marketing & PR Events

2010

Marketing Analysis

Current Marketing Plan: Surround Sound

Conferences/Roundtables

Media Outreach/Press releases

Advertising in trade publications

Networking• Relationship Building

MARKETING ANALYSIS

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

Leerink Swann Scholarship competition:Annual Medical Scholarship granted to a Pre-Med College Senior

Open to college seniors entering Medical School

Competition: Develop a Biomedical Research Project

Winner receives Full Scholarship plus MEDACorp position upon graduation

MARKETING STRATEGY

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

Leerink Swann Annual Conference/Retreat

• Culminates with award dinner for the Leerink Swann Scholarship winner.

MARKETING STRATEGY

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

Implementation

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

STRATEGY MAP

2009 2012

Jan. 2010London Expansion

April 2010Toronto Expansion

Nov. 2009Announce Leerink Swann Scholarship competition

June 2010First Annual Conference/ scholarship award dinner

Jan. 2011:New Jersey Expansion

Summary Timeline

Industry I Competitive Analysis I Opportunities I Marketing I Strategy I Implementation

IMPLEMENTATION

$200M $400M

Questions