NEW YORK, July 12, 2018 /PRNewswire/ -- Wall Street Access (WSA), a diversified financial services firm, today announced that Vandham Securities Corp has joined the firm, in a combination that brings together two well-established, privately owned broker-dealers with a commitment to client service, technology and an entrepreneurial culture.
In the transaction, WSA will acquire the assets and client relationships of Vandham, which will continue to operate from its offices in Park Ridge and Marlboro, New Jersey, and Huntington, New York. The combined firm will operate under the Wall Street Access brand.
Independently owned and operated for more than 28 years, Vandham Securities is a leading international market-making brokerage well known as a destination for the institutional investment community.
"We welcome Vandham and its clients to the Wall Street Access family," said Sean Kelleher, President of Wall Street Access. "Vandham is acknowledged as one of the leading market makers in the business, with particular experience in international trading as well as in ADR and overnight conversion markets. Our new partnership will leverage this market leadership with Wall Street Access's relationships and capital base to ensure continued growth and success for the benefit of all our clients."
Chris Catrini of Vandham Securities said: "Our new relationship with Wall Street Access represents a great moment for our clients and our firm. Independently owned and operated for more than 35 years, Wall Street Access brings a strong balance sheet and considerable resources to Vandham clients. They also share our expertise in the high-touch services our clients have come to expect. At both our firms, success comes down to providing the people, the infrastructure and the capital to serve clients of all sizes—both in domestic markets and internationally."
Wall Street Access' continued growth comes on the heels of two major announcements last year. In August 2017, WSA acquired a majority stake in RJL Capital Group, LLC, a prime brokerage and trading services firm headquartered in New York City. In April, WSA's Asset and Wealth Management division acquired Boston-based NU Paradigm, an investment advisory, asset management, and outsourced CIO firm. In addition to its broker-dealer business, Wall Street Access now manages more than $370 million in assets for institutional investors and high net worth families.
"Wall Street Access continues to look for opportunities to work with broker-dealers looking for a strategic partner with a strong balance sheet, robust operational infrastructure, and a well-managed finance and compliance team," Kelleher said.
About Wall Street Access
Wall Street Access combines an independent, entrepreneurial culture with a decades-long commitment to building and operating a diverse set of successful financial services businesses, including global and domestic equity trading, market making, prime brokerage services, and asset management. Wall Street Access makes markets in fixed income, specializing in high-grade corporate bonds, municipal bonds and CDs. They are also a high-touch execution services broker for listed options. WSA clears its trades through BNY Mellon's Pershing LLC, and through ICBC Financial Services LLC, a subsidiary of Industrial and Commercial Bank of China. WSA has the expertise and flexibility to quickly seize emerging opportunities and have successfully evolved through up and down market cycles while always remaining a trusted and reliable partner to their clients.
SOURCE Wall Street Access