Exotic Is the Word for Montgomery's Last Conference Before NationsBank

Alligator, antelope, and Willie Nelson.

Montgomery Securities apparently spared no expense in staging its final annual investors conference as an independent investment bank.

The conference, held here last week at the Ritz Carlton Hotel, was attended by more than 1,900 invited investors and executives, along with some 400 Montgomery Securities employees, according to a spokesman for the investment bank.

Montgomery officials declined to say how much the event cost, but people who have helped arrange similar-size gatherings estimated the price tag at $5 million.

Much of the expense was due to the food, which included alligator on "Cajun Night" and antelope for "Western Night." Such dinners cost a minimum of $150 per person, they say.

Lunches weren't quite so lavish, but did include such speakers as NationsBank chief executive Hugh L. McColl, as well as Washington pundits William Kristol and Mark Shields - who for the fourth consecutive year told a joke about Patrick J. Buchanan running for president with Cincinnati Reds owner Marge Schott, attendees said.

After the alligator and antelope dinners, entertainment included performances by singers Willie Nelson, Aaron Neville, and Bruce Hornsby. Such performers get $50,000 to $100,000 each, say conference arrangers.

On Thursday night, comedian Dana Carvey closed the festivities for the second consecutive year. "Dana surprises and delights audiences with his hilarious routines and uncanny comedic impersonations," noted Montgomery's conference program. "It's also quite possible that he'll offer his own improvisation of the investment banking world!"

Most executives in attendance were longtime clients of Montgomery, which was founded in 1971 by chairman and chief executive Thomas W. Weisel. This week the firm is expected to complete its $1.2 billion sale to NationsBank Corp.

Montgomery has held its investors conference at the Ritz Carlton for several years, in part because few other hotels offer the necessary amenities, Mr. Weisel said. "I suppose we could hold it at the Marriott," he said, "but our clients wouldn't like that."

Executives at NationsBank say they have no intention of curtailing the fun next year.

"These conferences are a huge money-maker," said NationsBank president of global finance Edward J. Brown 3d. "Hundreds of CEOs are here, and it would cost much more to meet them all separately. You have to look at this not as an expense, but an investment."

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