Time for MAXF 6.07 +.13 finally! News! Thursday April 18, 7:48 pm Eastern Time
Press Release
SOURCE: Maxcor Financial Group Inc.
Maxcor Financial Announces Formation of Leveraged Finance Group to Provide Investment Banking and Trading Services
NEW YORK--(BUSINESS WIRE)--April 18, 2002--Maxcor Financial Group Inc. (Nasdaq:MAXF - news), through its broker-dealer subsidiary, Maxcor Financial Inc., is expanding its services to include investment banking and trading.
This initiative is the next step in Maxcor Financial's growth plan and ongoing diversification strategy.
The Leveraged Financial Group will participate in all aspects of leveraged finance, including high yield private placements and public underwritings, sales, trading, research and other related capital market activities. It will also provide financial advisory services such as merger and acquisition and restructuring advice.
Heading up Maxcor's new leveraged finance group are Mario A. Monello, Joseph Bencivenga, Ralph DellaCamera and Neil Wiesenberg. Mr. Monello was formerly a managing director at CIBC World Markets, in charge of leveraged finance distribution. He also held positions as president of The Argosy Securities Group and managing director and partner at Lehman Brothers, responsible for the firm's high yield effort. Mr. Bencivenga, also a securities industry veteran, was formerly a managing director at Barclays Capital overseeing the firm's global high yield activities. Prior to this, he held several positions including co-head of fixed-income research at Salomon Brothers and Drexel Burnham. Mr. DellaCamera, formerly head trader and global risk manager for Elliott Associates L.P., adds his experience as a trader and asset manager. Mr. Wiesenberg, who was previously a managing director at CIBC World Markets responsible for the origination and execution of leveraged financings including buyouts, growth financings and restructuring transactions, will focus on servicing the firm's investment banking clients.
Said Gilbert D. Scharf, Chairman and CEO of Maxcor Financial Group, ``Today's markets offer an excellent opportunity for Maxcor to introduce a market-tested leveraged finance team capable of providing personalized attention, technical expertise, and, most importantly, conflict-free advice, all to the highest standard of client service. We are delighted to have assembled this talented group of professionals to drive the effort forward.''
Maxcor Financial Group Inc. (www.maxf.com), through its various Euro Brokers entities, is a leading domestic and international inter-dealer brokerage firm. Tradesoft Technologies, Inc. (www.tradesoft.com) is the Company's software and technology arm, specializing in the development and licensing of electronic trading platforms. Maxcor Financial Inc. is the Company's U.S. registered broker-dealer subsidiary, and Maxcor Financial Asset Management Inc. is the Company's SEC registered investment adviser subsidiary. The Company employs approximately 500 persons worldwide and maintains principal offices in New York, London, and Tokyo.
This release contains certain ``forward-looking'' statements made pursuant to the ``safe harbor'' provisions of the Private Securities
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