Siebert Financial Corp. launches a Capital Markets Group, led by Randy Billhardt, to enhance institutional services and retail growth.
Quiver AI Summary
Siebert Financial Corp. has launched a new Capital Markets Group to expand its presence in institutional markets while enhancing retail growth. The division will be headed by Randy Billhardt, a Wall Street veteran with over 30 years of experience, known for his successful track record in capital markets, particularly in debt offerings. Billhardt's team has raised over $4 billion for notable firms, and under his leadership, the new group aims to leverage Siebert’s retail distribution to offer innovative financial products, improve institutional capabilities, and create value for clients and shareholders. CEO John Gebbia expressed confidence in Billhardt's ability to drive growth through enhanced offerings, including IPOs and baby bonds. This initiative aligns with Siebert’s commitment to innovation and client success as it continues to evolve in today's dynamic market landscape.
Potential Positives
- Launch of the new Capital Markets Group signifies Siebert Financial Corp.'s strategic expansion into institutional markets, indicating growth and diversification opportunities.
- Appointment of Randy Billhardt, a seasoned executive with over 30 years of experience, enhances the company's leadership and expertise in capital markets.
- Billhardt’s proven track record, including over $4 billion raised from notable firms, underscores the potential for successful capital initiatives and financial product innovation.
- Commitment to innovation and client success is reinforced, aligning with Siebert's mission to empower various market participants in a dynamic financial landscape.
Potential Negatives
- Potential over-reliance on Randy Billhardt's leadership may create challenges if expectations are not met, as the company's growth depends significantly on a single executive’s performance.
- The cautionary note about forward-looking statements highlights several risks and uncertainties that could significantly impact the firm's business and financial performance.
- The announcement may lead to increased scrutiny from investors and analysts regarding Siebert's ability to execute its ambitious growth strategy in a competitive market.
FAQ
What is the Capital Markets Group at Siebert Financial Corp?
The Capital Markets Group is a newly launched division focusing on expanding Siebert's efforts in institutional markets.
Who is leading the Capital Markets Group?
Randy Billhardt, a seasoned Wall Street executive with over 30 years of experience, will lead the Capital Markets Group.
How does Siebert plan to enhance its institutional capabilities?
Siebert will use its retail distribution network to provide innovative financial products and strengthen institutional capabilities.
What expertise does Randy Billhardt bring to Siebert?
Billhardt brings extensive experience in capital markets, including successful debt offerings and leadership in issuing unsecured notes.
What are Siebert Financial's future plans?
Siebert aims to enhance its offerings, including IPO underwriting and secondary offerings, to drive client success and growth.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SIEB Hedge Fund Activity
We have seen 7 institutional investors add shares of $SIEB stock to their portfolio, and 8 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GEODE CAPITAL MANAGEMENT, LLC added 85,456 shares (+70.4%) to their portfolio in Q3 2024
- COLONY GROUP, LLC added 36,800 shares (+inf%) to their portfolio in Q3 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 14,676 shares (+inf%) to their portfolio in Q3 2024
- VANGUARD GROUP INC added 9,764 shares (+2.8%) to their portfolio in Q3 2024
- TOWER RESEARCH CAPITAL LLC (TRC) removed 5,511 shares (-78.0%) from their portfolio in Q3 2024
- BLACKROCK, INC. removed 3,519 shares (-6.9%) from their portfolio in Q3 2024
- SIMPLEX TRADING, LLC removed 3,198 shares (-100.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Siebert Financial Corp. (NASDAQ: SIEB) today announced the launch of its new Capital Markets Group, a significant step in the company’s strategic expansion into institutional markets, further enhancing its retail growth. Randy Billhardt, a seasoned Wall Street executive with more than 30 years of experience, including leadership roles at B. Riley Financial, will lead the division as Head of Capital Markets Group.
Billhardt brings a wealth of expertise and a proven track record in capital markets, making him an ideal leader to drive this transformative initiative. He has been delivering remarkable results in capital markets for more than 15 years and is an established leader and partner in unsecured notes and preferred stock issuance.
Billhardt’s product expertise and execution capabilities have enabled his team to book more than 50 debt offerings, raising more than $4 billion for renowned firms such as Atlanticus, Xoma, Harrow, B&W and Alta Group. Under his leadership, the Capital Markets Group will focus on leveraging Siebert’s robust retail distribution network to deliver innovative financial products, strengthen institutional capabilities and enhance value for both clients and shareholders.
“This is an exciting milestone for Siebert. We couldn’t ask for better talent than Randy,” said John Gebbia Senior, CEO of Siebert Financial. “His understanding of the institutional landscape combined with his leadership acumen puts us in a great position to unlock tremendous growth opportunities and better serve our clients. Given his expertise you can expect Siebert to enhance our offerings with things like IPO underwriting, participating in secondary offerings and offering baby bonds.”
“I’m honored to join a reputable Wall Street firm at this pivotal moment. The launch of the Capital Markets Group reflects Siebert’s forward-thinking strategy, and I’m thrilled to lead this effort to expand our institutional platform and deliver exceptional value to our clients,” said Mr. Billhardt. “I look forward to focusing on the newly launched Capital Markets Group while continuing to help issuers raise capital by leveraging our retail distribution and At-the-Mkt (ATM) capabilities.”
The launch of the Capital Markets Group aligns with Siebert’s ongoing commitment to innovation and client success following its expansion in 2024. This initiative underscores the firm’s mission to create financial solutions that empower individuals, institutions and brokers to thrive in today’s dynamic markets.
About Siebert Financial Corp.
Siebert is a diversified financial services company and has been a member of the NYSE since 1967 when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms.
Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC and StockCross Digital Solutions, Ltd, and Gebbia Entertainment LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions in addition to entertainment and media productions. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at
www.siebert.com
.
Cautionary Note Regarding Forward-Looking Statements
The statements contained in this press release, that are not historical facts, including statements about our beliefs and expectations, are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by or that include the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project,” “intend” and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements.
These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns resulting from extraordinary events; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert’s business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A - Risk Factors of Siebert’s Annual Report on Form 10-K for the year ended December 31, 2023, and Siebert’s filings with the SEC.
Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur, that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise, except to the extent required by the federal securities laws.
Media Contact:
Deborah Kostroun, Zito Partners
deborah@zitopartners.com
+1 (201) 403-8185
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
