Another Article on Banking Vet moving to DGLY
mergersunleashed.com.
Digital Ally Adds Banking Vet
Another bulge bracket pro exits the space to pursue corporate opportunities as the investment banking space shrinks.
By JONATHAN MARINO
June 1, 2009
Digital Ally has expanded its corporate development team with the addition of Michael Caulfield, the listed Kansas company announced.
Caulfield, effective June 1, will work with Digital Ally as vice president of strategic development.
Digital Ally is inheriting a bulge-bracket banking pro with experience in the sector and relationships with some of the nation’s biggest defense firms. The company develops advanced surveillance products for law enforcement and security applications.
Caulfield, who over the last nine years has worked with both Morgan Stanley and, more recently, with Banc of America Securities, has experience at the banks working with clients including Raytheon, Lockheed Martin, Cogent Systems and Federal Signal. Caulfield also worked for more than a decade with General Electric Capital Corp.
The company did not respond with comment by press time. Digital Ally shares have been disproportionately hit by the recession, declining from a 52-week high of $10.73 to $1.73 at press time.
As investment banking opportunities continue to evaporate, experienced executives from that space are increasingly heading off in new directions to pursue alternate opportunities.
Former Goldman Sachs-er Jonathan Symonds, it was recently announced, will head to Swiss pharmaceutical firm Novartis AG. Banc of America Securities pro Brooks Kaufman jumped ship for Soltage LLC, a solar energy company and Andrew Cuneo, formerly of Merrill Lynch, has joined Mylan Inc., a pharmaceutical company, as the vice president of its global business development team. |
