Securities Industry Salutes Mischler Financial Group; “Best Broker-Dealer/Research” Awarded to Veteran-Owned Firm
Stamford, CONN-February 26, 2014—Mischler Financial Group, the securities industry’s oldest minority investment bank/institutional brokerage owned and operated by service disabled veterans (SDVs) announced its receipt of the 2014 Wall Street Letter Institutional Trading Award for Best Broker-Dealer/Research.
The award was determined by a panel of industry peers organized by global financial news publisher Pageant Media Ltd., who weighed the content offerings from sell-side firms specializing in equities and/or and fixed income insight. The top award to Mischler recognizes the firm’s debt capital markets and fixed income syndicate commentary, produced by Ron Quigley, Managing Director and Head of Fixed Income Syndicate for Mischler. Runner-ups for the Best Broker-Dealer Research category included investment banks Stifel Financial Corp. and Sandler O’Neil + Partners L.P.
Mischler Financial was also nominated for “Best Client Service” and “Best Broker-Dealer/Equities”; categories in which other contenders included global brands Bloomberg LP, Sunguard Financial Systems, Northern Trust Securities and Instinet, among others.
Noted Dean Chamberlain, CEO of Mischler Financial Group, “It’s a real privilege to be acknowledged for excellence by our peers and to be cited for our capabilities, particularly when looking at the roster of globally-recognized Industry leaders who were also nominated.”
This year’s Wall Street Letter Institutional Trading Awards program encompassed 20 categories and more than 100 nominees; winners were announced during a formal event on February 25 in New York City attended by more than 250 financial market professionals representing the industry’s top investment banks, brokerage firms, exchanges and trading system technology concerns.
About Wall Street Letter’s Institutional Trading Awards
The Wall Street Letter 2014 Institutional Trading Awards recognize excellence among providers to the institutional trading industry. Specifically, this event recognizes top brokerage firms, exchanges and financial technology companies for achievements and innovation over the last year. Wall Street Letter is one of 11 mastheads owned by Pageant Media Ltd and is distributed daily to more than 2,500 subscribers.
Mischler Financial Group Promotes Industry Veteran Joe Digiammo to Head of Equities; Minority-Owned Firm’s Equities Market Footprint Continues to Broaden
Newport Beach, CA, December 2—Mischler Financial Group (“MFG”), the securities industry’s oldest minority investment bank and institutional brokerage owned and operated by service-disabled veterans announced today that Joseph Digiammo has been promoted to Head of Equities for the firm. A 20-year industry veteran who previously held senior equities sales/trading roles for Morgan Stanley, UBS and Susquehanna Investment Group, Digiammo joined Mischler in 2012 as a Managing Director in connection with the launch of the firm’s Boston office. In his new role, Digiammo will oversee MFG’s expanding team of equities sales/traders and coordinate the firm’s initiatives across the firm’s domestic and international equities execution platform.Digiammo will report directly to Mischler Financial’s CEO Dean Chamberlain.
Noted Chamberlain, “As our firm approaches our 20th anniversary and we continue to extend an even wider footprint within the primary equity capital markets, corporate share repurchase and secondary market trade execution space, Joe’s leadership skills, his broad knowledge of domestic and international block equities trading, coupled with his deep understanding of the needs of Tier 1 institutional managers makes him the ideal choice to lead our equities team.”
About Mischler Financial Group
Headquartered in Newport Beach, California with regional offices in Stamford, CT, Boston, MA, Chicago, IL and Detroit, MI, MFG serves leading institutional investment managers, corporate treasurers, public plan sponsors and select hedge funds by providing capital markets services, agency-only execution within the global equities and fixed income markets, and asset management for liquid and alternative investment strategies. The firm’s website is located at http://mischlerfinancial.com
Media Inquiries: Jay Berkman, JLC Group, 203.255.0034
Quigley’s Corner: Dec 2, 2013
Investment Grade New Issue Re-Cap
December kicked off today with yet another avalanche of IG new issuance that featured 4 issuers across 13 tranches and a total of $9.50billion. In fact, it hit for a rather unique cycle today in that we saw a single tranche, a two-part, four-part and six-part!! Today’s offerings emphasize the diverse menu of bonds we’re seeing served up to investors. Issuer diversity ranged from restaurants to pharmas; from a retail staple to banking. The aftermarket performance of today’s new issues tightened anywhere from 2 bps to as much as 8 bps in the case of CVS’ new 30-year tranche. CVS garnered a 19 billion book (4.75x).
Now, sit back, relax, kick up your feet and get a nice hot cup of Starbucks coffee because it was for the Seattle–based American global coffee company and coffeehouse chain that is our highlighted transaction. Mischler Financial Group, Inc. is proud to announce it had its first taste of Starbucks today, figuratively speaking of course, having been offered an active Co-Manager role on its two-part 3- and 5-year transaction. Starbucks Corp. (Baa1/A-) hit the tapes as a $750 million “will not grow” Senior Unsecured Global transaction and with the caveat that each tranche would be index eligible inferring at least a $250 million size. IPTs were in the +50 “area” on the 3s and +75-80 on the 5s before tightening substantially to the +40 and +65 “area respectively. At that point “area” was defined as +/- 2 bps. Both tranches reeled into the tightest side of those launch levels at +43 and +63 where they each priced. The 3-year was $400 million with the 5-year at $350 million.
The most recent Starbucks deals to price were three months ago in September but prior to that you’d have to look back six years to their 2007 issues. Relative value, as such, simply pointed to those prints. For the five-year we looked at the 6.25% due 8/15/2017 was T+23 bid pre-announcement or G+78 or negative 15 bps versus today’s +63 pricing level. The 3s/5s curve is about 25 bps taking you to today’s T+38 final pricing level and therein pointing to another negative 15 bps concession.
With 20,891 stores in 62 countries, and 13,279 of them in the U.S., Starbucks is the largest coffee company in the world. Given the broad range of its customer base and geographical locations, diversity and inclusion is not only a smart business decision for Starbucks but it’s at the core of its business plan. Just ask CFO-CAO Troy Alstead who will tell you that Supplier Diversity is a smart business decision. It helps the Company identify and deliver high quality products and services across all business channels. Its customer base, is as diverse as is its supplier mix. It begins the moment you walk into any Starbucks store in which its employees embrace diversity. It’s an essential component of who they and extends to its store locations in local neighborhoods. Think about that readers. Where is your local Starbucks? You see what I mean? It’s part of every community! It’s all inclusive.
Starbucks Most Diverse Print Ever!
Not only did Starbucks include several loan lending institutions as Co-Managers on today’s prints but it worked to mirror its customers by selecting its single most diverse fixed income print ever: Along with Mischler Financial Group, Inc., – the nation’s oldest and largest Service Disabled Veteran broker-dealer – Starbucks selected minority boutique investment banks that are known as “best-in-class” within each minority category. Lebenthal (woman-owned); Ramirez (Hispanic American) and Williams Capital (African American). It may be hard to believe – given the excellent product we all look forward to in the morning – but I’ll bet your Starbucks coffee will taste that much better knowing the people at the top of Starbucks have embraced a policy reflective of all of us.
Congrats to Starbucks management and Treasury/Funding for today’s piping hot print that just happens to have tightened 3 bps on the bid side of both the 3- and 5-year tranche. Final order books were heard to be $2.2 billion on the 3-year (5.5x bid-to-cover) and $2.4 billion on the 5-year (6.86x covered). Investors clamored for bonds and Mischler was happy to have been able to help introduce a total of 16 new investors to Starbucks’ investor profile. How’s THAT for diversity?
Thank you to Starbucks for today’s opportunity and a nice shout out to the Morgan Stanley syndicate desk for working so well and so efficiently with us today! MS was there the moment info was available and I’m happy to say it was a seamless and smooth experience!! As for all our investors, especially those that have helped build the foundation on which our premier distribution network has been built……well…..you all know how I feel – you’re the best! Thanks to all of you! –RQ
……..enjoy your vento mocha frappucino with soy mocha drizzle, matcha powder, protein powder, caramel brulee topping, strawberries and frappuccino chips!!! (more…)
America is the strongest country on the planet. This is because patriots across the land are focused on giving back to always focus on initiatives to Build a Stronger America. On Nov 21, a 10-man (and women) team from Mischler Financial Group’s Stamford CT squad, led by CEO Dean Chamberlain, were proud to support the GE Capital- sponsored fundraiser for BuildOn.org, a fantastic organization dedicated to inspiring our young generation to drive positive change through community service and education.
News and Information Categories
- Mischler Muni Market Outlook: Municipal Bond Offerings Scheduled Week of April 24 04/24/2017
- Week’s IG Corporate Bond Issuance: Cooling Off Period; April Showers Bring May Flowers 04/22/2017
- FIG Funding 5.0- Mother Merrill Launches a MOAB (Mother of All Bonds) 04/20/2017
- FIGs 4.0; Investment Grade New Issue Re-Cap- Mischler Debt Market Comment 04/19/2017
- Mischler Muni Market Outlook-Pending Municipal Debt Offerings Scheduled This Week 04/17/2017
- Risk Appetites Sour as News Cycle Confounds, But US Equity Markets Remain Stable; Mischler Commentary 04/07/2017