NEW YORK, March 24, 2014 /PRNewswire/ -- CastleOak Securities, L.P., a leading New York-based boutique investment banking firm and the #1 ranked minority-owned underwriter of Federal Agency and Supranational debt today announced it was selected by the International Bank for Reconstruction and Development (IBRD), commonly referred to as the World Bank, to join their discount note dealer group. CastleOak is the first and only minority-owned or boutique dealer in this group of eight investment banks.
CastleOak has placed over $4 billion of the World Bank's debt securities with U.S. institutional investors since 2011. George Richardson, Head of Capital Markets at the World Bank, said "CastleOak has been a strong supporter of our funding program since we first began working together, and we are pleased to add them as one of the few named dealers of our discount note program."
"Joining the World Bank's discount note dealer group is an important milestone in CastleOak's commitment to grow our fixed income business by providing our clients with new sources of liquidity and efficient access to product," said David R. Jones, President and Chief Executive Officer of CastleOak Securities. "We are proud to expand our strategic partnership with the World Bank to offer our clients direct access to the World Bank's discount window."
Itai Benosh, Managing Director, GSE & Supranational Capital Markets at CastleOak, said "We have been working closely with the World Bank's capital markets team on broadening the distribution of their medium term debt securities in the U.S. institutional market, and we are excited to have the opportunity to do the same for their discount note program."
About CastleOak Securities
CastleOak Securities, L.P. is a boutique investment bank focused on the capital markets and serving a broad array of corporate, governmental and institutional investor clients. Headquartered in New York City, and with five regional offices, CastleOak specializes in primary and secondary sales and trading of fixed income, equity, municipal and money market securities. CastleOak Securities was named a leading black-owned investment bank by Black Enterprise magazine for the last three consecutive years. For more information, visit www.castleoaklp.com.