New
York-based monetary providers and institutional buying and selling agency BTIG has introduced
the promotion of Michael Passaro to the position of Head of Fairness Capital Markets
(ECM). In his new position, Passaro will lead the fairness capital markets workforce and work
with BTIG’s business bankers to supply strategic recommendation to shoppers on fairness
options for capital elevating wants.
The
promotion of Passaro comes as a part of BTIG’s broader push to increase its
capabilities in fairness capital markets and associated funding banking providers.
Michael Passaro, BTIG
Anton LeRoy,
the CEO of BTIG, expressed confidence that Passaro can “drive progress and
growth of our fairness capital markets division, offering shoppers with
modern transactional options that leverage our huge distribution community.”
Since
becoming a member of BTIG in 2020, Passaro has performed a key position in increasing the
agency’s fairness capital markets group. He beforehand frolicked at Deutsche Financial institution
and Raymond James the place he targeted on equities transactions for enterprise capital
and personal fairness funds.
BTIG’s Hiring Spree
The
promotion can be a part of an ongoing hiring effort by BTIG to construct out its
fairness capital markets workforce. BTIG just lately introduced on Anthony Faria as a
Director of Fairness Capital Markets, the place he’ll give attention to ECM origination and
execution. Faria beforehand held ECM positions at RBC, UBS and Wells Fargo.
LeRoy, the
present CEO, can be a personnel change from a number of months in the past. He changed
Scott Kovalik, the Co-Founder. Kovalik and Steven Starker, the opposite Co-Founder,
assumed the place of Co-Chairman of the Group.
BTIG
offers providers in areas like institutional buying and selling , funding banking,
analysis and brokerage to over 700 workers globally throughout 20 cities within the
U.S., Europe, Asia and Australia. The agency’s funding banking division
advises shoppers on IPOs, SPAC offers, personal placements, buybacks and different
transactions.
$200 Million Swimsuit in opposition to
StoneX
In
November, the corporate filed a authorized motion in opposition to its competitor, StoneX Group,
alleging the theft of its proprietary software program code and confidential enterprise
data associated to its inventory buying and selling know-how. The lawsuit, lodged in a
California court docket, seeks compensation of not less than $200 million.
The
accusation by BTIG revolves round StoneX purportedly poaching a bunch of
BTIG’s merchants and software program engineers. In accordance with BTIG, the intention was to accumulate confidential data for growing rival buying and selling platforms
and enterprise ventures.
The lawsuit
claims that not less than one ex-BTIG workers member secured the corporate’s software program
code by encrypting it and sending it to himself, a tactic supposed to evade
detection. BTIG’s authorized representatives pointed to textual content exchanges between two
ex-employees, certainly one of whom had moved to StoneX, discussing the appropriation of
BTIG’s software program code.
New
York-based monetary providers and institutional buying and selling agency BTIG has introduced
the promotion of Michael Passaro to the position of Head of Fairness Capital Markets
(ECM). In his new position, Passaro will lead the fairness capital markets workforce and work
with BTIG’s business bankers to supply strategic recommendation to shoppers on fairness
options for capital elevating wants.
The
promotion of Passaro comes as a part of BTIG’s broader push to increase its
capabilities in fairness capital markets and associated funding banking providers.
Michael Passaro, BTIG
Anton LeRoy,
the CEO of BTIG, expressed confidence that Passaro can “drive progress and
growth of our fairness capital markets division, offering shoppers with
modern transactional options that leverage our huge distribution community.”
Since
becoming a member of BTIG in 2020, Passaro has performed a key position in increasing the
agency’s fairness capital markets group. He beforehand frolicked at Deutsche Financial institution
and Raymond James the place he targeted on equities transactions for enterprise capital
and personal fairness funds.
BTIG’s Hiring Spree
The
promotion can be a part of an ongoing hiring effort by BTIG to construct out its
fairness capital markets workforce. BTIG just lately introduced on Anthony Faria as a
Director of Fairness Capital Markets, the place he’ll give attention to ECM origination and
execution. Faria beforehand held ECM positions at RBC, UBS and Wells Fargo.
LeRoy, the
present CEO, can be a personnel change from a number of months in the past. He changed
Scott Kovalik, the Co-Founder. Kovalik and Steven Starker, the opposite Co-Founder,
assumed the place of Co-Chairman of the Group.
BTIG
offers providers in areas like institutional buying and selling , funding banking,
analysis and brokerage to over 700 workers globally throughout 20 cities within the
U.S., Europe, Asia and Australia. The agency’s funding banking division
advises shoppers on IPOs, SPAC offers, personal placements, buybacks and different
transactions.
$200 Million Swimsuit in opposition to
StoneX
In
November, the corporate filed a authorized motion in opposition to its competitor, StoneX Group,
alleging the theft of its proprietary software program code and confidential enterprise
data associated to its inventory buying and selling know-how. The lawsuit, lodged in a
California court docket, seeks compensation of not less than $200 million.
The
accusation by BTIG revolves round StoneX purportedly poaching a bunch of
BTIG’s merchants and software program engineers. In accordance with BTIG, the intention was to accumulate confidential data for growing rival buying and selling platforms
and enterprise ventures.
The lawsuit
claims that not less than one ex-BTIG workers member secured the corporate’s software program
code by encrypting it and sending it to himself, a tactic supposed to evade
detection. BTIG’s authorized representatives pointed to textual content exchanges between two
ex-employees, certainly one of whom had moved to StoneX, discussing the appropriation of
BTIG’s software program code.
