USA Today reports that Boutros is taking over as chief executive officer of the tech-focused bank while Quattrone is stepping down to assume the role of executive chairman, Quattrone told USA TODAY this week.
Qatalyst made the announcement to employees and clients on Wednesday morning.
One of the technology industry's biggest deal makers, Quattrone, 60, says he is not retiring, but instead plans to drive strategy and advise clients "which is what I love."
Boutros will assume responsibility for management of the firm and will also continue to advise clients. Boutros, 55, who worked closely with Quattrone during the dot-com boom, rejoined Quattrone at Qatalyst five years ago.
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