NEW YORK--(EON: Enhanced Online News)--The Seaport Group LLC and Global Hunter Securities, LLC (GHS) announced today plans to merge their respective firms leading to the creation of a full service global investment bank. Based in New York and New Orleans, with a full range of investment banking, sales and trading capabilities, the merger is expected to complete in the 4th quarter. Today’s announcement follows the successful execution of a letter of intent by both parties to proceed with the transaction.
The merger will bring over 300 banking, sales and trading professionals together in over a dozen business and product lines including advisory, sales, trading and research. The combined entity will have a track record of $150 billion in fixed income transactions and $30 billion in investment banking transactions comprised of 170 deals over the last three years. The combined firm’s research capabilities will be expanded to include over three hundred companies.
Commenting on the transaction Mike Meagher, Co-Founder of The Seaport Group said: “Today is a seismic step for both our firms. With formidable track records in fixed income and corporate finance, today’s announcement will take two leading firms to a superior level of global capability and offering. Our new firm will be one of the few genuinely full service boutique investment banks able to offer clients advisory, sales and trading services across all products and markets. Now more than ever clients want to work with independent firms with client focus and best execution as their key values. Today’s announcement makes us an undisputed leader.”
Daniel O. Conwill IV, CEO of Global Hunter Securities said: “Quite simply we think Seaport is the best independent fixed income firm with true global reach. Their unique combination will give our clients access to range of markets from high yield, high grade and emerging markets as well as distressed. Offering an enhanced range of banking products is now possible. This merger will propel us into the handful of firms that can genuinely call themselves international boutique investment banks.”
Michael Meagher and Daniel O. Conwill IV will serve as Co-CEOs of the new firm, which will be headquartered in New York and New Orleans. The merger is expected to complete by year-end subject to regulatory approval.
Global Hunter Securities, LLC is a full-service investment bank based in New Orleans, focusing on natural resources-related sectors including Energy, Industrials and Shipping as well as sales and trading capabilities in equity and high yield with worldwide reach. With over 110 dedicated professionals in 2012, the firm completed 72 engagements, totaling approximately $14 billion in aggregate value.
The Seaport Group LLC was founded in 2001 as a distressed debt broker and has grown to nearly 200 professionals operating in over a dozen separate business lines. Seaport is a leader in global capital markets with multi-product expertise. Based in New York, the firm executes over $50 billion in annual average fixed income transactions and has one of the largest sales and trading operations of any boutique investment bank.