Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

21439

First Empire expands CD and structured note underwriting capabilities

RELATED TOPICS​

First Empire Securities, a national fixed income broker-dealer for institutional investors, has expanded its certificates of deposit (CD) and structured note underwriting business with the arrival of Ardi Baniahmad, Josh Brenner, Rick Cabanes and Meghan Greenwood, formerly of Hapoalim Securities USA/Bank Hapoalim.

They will be based in the firm's newly opened Los Angeles and Jersey City, NJ offices.
 
"Meghan, Ardi, Josh and Rick bring meaningful financial institutional relationships, extensive structured transaction experience, and a diversified sales approach to our current underwriting businesses," says Stephanie Rella, chief operating officer at First Empire. "They are uniquely positioned to help issuers optimise their funding needs, as well as deliver compelling payoffs for clients looking for yield in this new era of depressed rates. We're delighted that they joined the firm."
 
In growing the underwriting capabilities at First Empire Securities, the group will build out a syndicate and secondary trading platform, focusing on underwriting structured payoffs in certificate of deposit and corporate note form. They will also expand the company's digital product delivery platform.
 
"The new team has executed billions of dollars in structured transactions over the last 10 years, including deals referenced to every asset class and in virtually every payoff delivered to all types of clients here in the US as well as off shore," says Joseph Oricoli, managing director at First Empire Securities. "We are confident that they will add tremendous value to our depository client base, creating novel and cost-effective funding solutions, as well as providing innovative products to our buy- side client base supporting issuances with deep and meaningful secondary markets."
 
At Hapoalim, the team created the Structured Product Trading Group servicing domestic and international issuers and creating products for private banks, broker-dealers, investment advisers and other institutions. Previously, the team was involved in similar lines of business at Countrywide Financial/Bank of America.
 
"With a dedicated balance sheet to take down large transactions, our underwriting service will be a powerful offering for institutions to increase net interest margin and to diversify access to liquidity," says Cabanes. "With one of the largest credit union coverage teams in the industry, First Empire will enhance our ability to unlock new pools of liquidity for depository institutions."

Latest News

Bequant has announced that it has launched a new capital introduction platform designed specifically for..
ndosuez Wealth Management has announced the launch of Indosuez Funds - Chronos Green Bonds 2028,..
New global research from industry association Global Digital Finance (GDF) shows most major financial institutions..

Related Articles

graph
The exodus from hedge funds continues with investors questioning unswayed by relatively strong performance from the alternative asset class...
The exodus from hedge funds continues with investors questioning unswayed by relatively strong performance from the alternative asset class...
Waves
A joint statement from BNP Paribas Asset Management, Federated Hermes Limited, Mirova, Robeco and Storebrand Asset Management has been published, entitled The urgent need for better ocean-related data to make informed investment decisions...
A joint statement from BNP Paribas Asset Management, Federated Hermes Limited, Mirova, Robeco and Storebrand Asset Management has been published,..
Frozen soap bubble
From the end of this month, the UK’s Sustainability Disclosure Requirements (SDR) regime comes into force which the Financial Conduct Authority says has a simple aim: “Financial products that are marketed as sustainable should do as they claim and have the evidence to back it up.”..
From the end of this month, the UK’s Sustainability Disclosure Requirements (SDR) regime comes into force which the Financial Conduct..
Global ESG Investing
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of climate change and ESG factors in state policymaking...
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by