Ladenburg Thalmann Bolsters Institutional Equity Business with Addition of Senior Team of Traders and Salespeople
Industry Veteran Jack Miles and Team Expand Broker-Dealer Platform
MIAMI-- Ladenburg Thalmann Financial Services Inc. (AMEX: LTS) (“Ladenburg”) today announced that it has expanded its institutional equity business at its broker-dealer subsidiary, Ladenburg Thalmann & Co. Inc., with the addition of a talented team of traders and salespeople. The new additions joining Ladenburg include John (“Jack”) Miles as Managing Director, Institutional Sales and Trading; Alexander Bonello as Managing Director, Institutional Sales and Trading; Michael Marino as Managing Director, Institutional Options Sales and Trading; Christopher Calabrese as Managing Director, Institutional Sales; and Daniel Munro as a Vice President, Trading. These appointments are effective immediately.
“We are very pleased to welcome this highly talented and productive team to Ladenburg. We are confident that their expertise and relationships will be a valuable asset to Ladenburg as we continue to expand our institutional equity business to meet the needs of a growing client base,” said David Rosenberg, Co-President and Chief Executive Officer of Ladenburg Thalmann & Co. Inc.
“We are thrilled to join Ladenburg, with its strong team, proud 130-year history and robust banking and research platform,” said Jack Miles. “We see a substantial opportunity to further build out the institutional business at Ladenburg, and we look forward to contributing meaningfully to the future success of the firm.”
About Mr. Miles
Mr. Miles began his career at Kidder, Peabody & Co. on the floor of the American Stock Exchange trading stock options, and was a principal of his own firm, Doyle Miles & Co, a direct access broker dealer on the NYSE floor where they executed orders for a significant buy-side client base in listed OTC securities. Doyle Miles & Co subsequently merged into WJB Capital Group, an equity sales and trading firm that traded equities, equity derivatives, and structured equity products.
About Mr. Bonello
Mr. Bonello has over 17 years of trading experience, and served as a Vice President of the Portfolio Trading Group at WJB Capital for 6 years. Mr. Bonello also worked at firms such as Knight Securities, Cuttone and Company and Pulse Trading throughout his career.
About Mr. Calabrese
Mr. Calabrese began his career at Automatic Data Processing on the financial services sales desk, where he eventually oversaw various trading teams. Mr. Calabrese joined Doyle Miles & Co to oversee the entire sale initiative. As part of the merger with WJB Capital, he joined the firm as Head of Business Development.
About Mr. Marino
Mr. Marino began his career trading options on the Philadelphia and Pacific Stock Exchanges. He was most recently a Director of Options Sales and Trading at WJB Capital.
Ladenburg Thalmann Financial Services is engaged in independent brokerage and advisory services, investment banking, equity research, institutional sales and trading, and asset management services through its principal subsidiaries, Ladenburg Thalmann & Co. Inc., Investacorp, Inc., Triad Advisors, Inc. and Securities America, Inc., which together have approximately 2,700 financial advisors and approximately $70 billion in client assets. Founded in 1876 and a New York Stock Exchange member since 1879, Ladenburg Thalmann & Co. is a full service investment banking and brokerage firm providing services principally for middle market and emerging growth companies and high net worth individuals. Investacorp, Inc., a leading independent broker-dealer headquartered in Miami, Florida, has been serving the independent registered representative community since 1978. Founded in 1998, Triad Advisors, Inc. is a leading independent broker-dealer and registered investment advisor headquartered in Norcross, Georgia that offers a broad menu of products, services and total wealth management solutions. Securities America, based in Omaha, Nebraska, was founded in 1984 and is one of the largest and most successful independent broker-dealers in the country. Ladenburg Thalmann Financial Services is based in Miami, Florida. Ladenburg Thalmann & Co. is based in New York City, New York with regional offices in Miami and Boca Raton, Florida; Melville, New York; and Princeton, New Jersey. For more information, please visit www.ladenburg.com.
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future growth of the institutional equity business. These statements are based on management’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of the Company’s business. These risks, uncertainties and contingencies include those set forth in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2010 and other factors detailed from time to time in its other filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
Sard Verbinnen & Co.
Paul Caminiti or Carrie Bloom or Jonathan Doorley
Source: Ladenburg Thalmann Financial Services Inc.