NW Capital Markets/NW Financial Group and Stern Brothers & Co. Announce a Strategic Combination
The firms expect to combine and operate as Stern Brothers & Co. to expand the business footprint
HOBOKEN, N.J., May 13, 2015 /PRNewswire/ -- NW Capital Markets and its affiliate NW Financial Group, a New Jersey based financial advisory and municipal bond underwriting firm, and Stern Brothers & Co., a privately held, 100% woman-owned investment bank based in St. Louis, Missouri today announced an agreement in principal to combine their public finance business.
"This is about better serving our clients. Stern Brothers offers us an opportunity to expand our footprint and add new products that improve our capabilities. We are thrilled to become partners with a well-respected national firm and look forward to expanding our business together," said Dennis Enright, founder and Principal of NW Capital Markets and NW Financial.
Headquartered in Hoboken, New Jersey, NW Capital Markets, www.nwfinancial.com, is a regional broker dealer with a 19-year history of underwriting municipal bond issues for local governments and agencies. NW Financial is the financial advisory affiliate of NW Capital and serves as both bond advisor and financial consultant for many governmental entities.
"The professionals of NW Capital Markets and NW Financial have a demonstrated track record in both investment banking and financial advisory. We believe the synergy between the firms should prove beneficial for all of our clients. Their professional team adds strong experience to Stern, and allows us to continue to grow our national platform with highly regarded professionals," added Pepe Finn, owner and Chairwoman of Stern Brothers & Co.
Stern Brothers & Co., founded in 1917, is a national investment bank headquartered in St. Louis, Missouri. The firm is wholly woman owned and certified as a Woman Business Enterprise (WBE). Stern Brothers is committed to having a team of experienced bankers who have expertise in structuring innovative financings that serve client needs. Stern Brothers is the largest woman owned remarketing agent in the U.S. with a portfolio of over $3.5 Billion.
The agreement in principal calls for the professionals of NW Capital Markets and NW Financial to become employees of Stern Brothers & Co. Dennis Enright, Principal of NW will be named Vice Chairman and have a seat on the Stern Brothers & Co. Board of Directors. NW's other Principals -- Dan Mariniello, Michael Hanley and Doug Bacher-- will be Managing Directors and serve on the firm's management committee.
The combination is subject to due diligence and final documentation. Both firms will continue to serve their clients independently until the combination is finalized.
Media Contact:
Keith Furlong
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SOURCE NW Financial Group
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