KPNQwest appoints Stephen Pitts. -
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Published on: 12/8/2000
Last Visited: 6/1/2002
KPNQwest appoints Stephen Pitts.KPNQwest appoints Stephen Pitts.
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12/1/2000, KPNQwest appoints Stephen Pitts.
KPNQwest announces the appointment of Stephen Pitts as Senior Vice President of Mergers and Acquisitions.Stephen Pitts joins KPNQwest after a very active 10-year banking career with Morgan Stanley and, more recently, Goldman Sachs, bringing with him the kinds of skills that will contribute to KPNQwests drive to strengthen its position as the leading pan-European data communications company.
From 1990-97 Steve worked for Morgan Stanley in a variety of locations, including New York, Hong Kong, Japan and Singapore, and was active in mergers and acquisitions and corporate finance.Notably he led the execution of numerous high-profile financing and M&A transactions, including advising the national Indonesian PTT, PT Telkom, during its privatisation in 1995.On joining Goldman Sachs in 1997, Steve headed up their Asian high yield effort and from the beginning of 1998 he moved to London where he played a leading role in developing Goldman Sachs alternative telecommunications franchise.In particular, he was responsible for executing KPNQwests $805 million high yield offering in May 1999 and was also involved in KPNQwests Initial Public Offering (IPO) on the Nasdaq and Amsterdam exchanges in November.Among other significant European telecom transactions, Steve was heavily involved in the $1.5 billion Nasdaq- and AEX-listed IPO of UPC (United Pan-Europe Communications) and its subsequent $1.5 billion high yield offering, as well as the concurrent 196 million IPO and 400 million high yield offerings for Jazztel.
Age 37, Steve brings a powerful combination of engineering, legal and financial expertise and experience.He has a BSc in Engineering and Applied Science from the California Institute of Technology and a JD/MBA degree in finance and accounting from the University of Chicago.
Commenting on the appointment, Willem Ackermans, CFO of KPNQwest, said: We are delighted to welcome Steve on board.