Fox-Pitt, Kelton, the financial services investment bank, has emerged on the $65m (€54m) initial public offering of US technology investment boutique, Thomas Weisel. Goldman Sachs had been co-leading the float with Weisel, but pulled out last week.

An amended Securities and Exchange Commission filing now shows Keefe, Bruyette & Woods has stepped up to be joint bookrunner with Weisel. Fox-Pitt has taken the junior role.