Anyone have any insight on these guys? It doesn't seem like pure IB to me after looking at the website, but rather that they are in some way involved in secured transaction sales of corporate assets, be it receivables, etc.
There isn't any info on the site about here, so maybe I should take that as a sign?
Registered as FINRA B/D in 1999, currently have ~$399,000 cash as of TTM 2012, income statement not publicly available. Registered as RIA, 0 clients, $0 AUM, CEO Ron D'vari FINRA licensed in 2002, serving as CEO since 2009. President is JAMES L. FRISCHLING, joined firm as President/ Chief compliance officer in 2009 as well.
No customer complaints, clear through Pershing. The company sounds alot more like an independent broker dealer with registered representatives with some IB on the side then a pure IB.
Hope this helps you
As well, as far as litigation, on May 22, 2012 the company settled legal action against Buccaneer Energy Limited, they were awarded $515,000, to be paid in 3 installments over a 1 year period.
for the year December 21, 2012 approximately 72% of the company's revenues were from one customer.
Administrative services expense was approximately $194,000 at December 21, 2012
Thanks man -- can I ask where you got that information?
Newoak (Originally Posted: 12/23/2013)
I was wondering if anyone has any insight or experience with Newoak. There's not too much information on here about them so I thought I would make a new post. I have a alumni I am about to contact there. Thanks
It is more of a litigation consulting type shop. They do a lot of valuation analysis in regards to the MBS litigation of the BBs. While they do have banking operations, and I have great things to say about the banking team there, it isn't really a classic IB advisory shop.
The bank seems to know where it can compete and where it has had success, and it has had success in the BO role of providing outsourced valuation services to the BBs and various hedge funds, institutions, etc.
In regards to IB, it is a small team. There is deal flow and you will get a good experience. The team focuses on niche industries that are underbanked in order to compete, but because of this the clients seem to really value the advice they provide because they aren't used to getting the attention/services that a IB can/will provide.
In regards to culture, while they do have firm events, I'd say on the whole that part is lacking. It seems to be the result of fast growth (bank was founded in 2007 I believe) and due to that and high employee turnover at the mid level a firm culture really hasn't taken shape.
Let me know if you have any specific questions and I'll try to be more clear.
This is great thanks. Can you talk about the IB a little more? And what industries do the IB go into? Is the exit ops for there IB good(I know thats a annoying question sorry). Thanks
They are generalist, but they seem to be doing a lot in the alternative finance sector (not sure what group this would be in classic IB). That being said, past transactions have run across the board. Like any boutique, they go after deals and execute the one's they get. However, one of the top guys in the shop has a sort of niche alternative finance background so that may be part of the reason. But the answer is generalist.
IB is made of a good group of guys. It's a small team, so when you interview with them make sure you like whoever you are meeting because they will have a huge impact on your experience/quality of life since the team is so small. In regards to responsibilities, you will be given everything that you can handle. The top guys also do take an interest in training you, since the better and more up to speed you are can really impact their quality of life. Unlike a BB, if you keep screwing up they can't just take you off the team..there wouldn't be anyone else to turn too...so they would have to do it. Good learning experience.
Exit ops won't be like the BBs or top boutiques obviously. Really your exit ops will be dependent upon you, as I do not know of any shops that formally target them for hiring.
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