Manhattan Harbor Capital (MHC) has unveiled the creation of Kingswood Capital Markets, which will offer a range of tailored products within the public and private investment banking middle and emerging growth markets.
Kingswood Holdings, which owns a 7% stake in MHC, has inked a letter of intent to pick up to 50.5% of MHC and rebrand it as Kingswood US.
Kingswood Capital Markets will offer multiple services in the areas of investment banking, capital markets, and advisory.
Among these services are equity financing, debt financing as well as private equity banking.
The business will serve various sectors such as technology, real estate, healthcare, energy, and consumer.
Kingswood will have around 180 authorised in the US managing around $2bn. It plans to start a rebranding campaign soon.
Division CEO Joseph Rallo and division president David Boral will be in charge of Kingswood Capital Markets.
Kingswood Capital Markets also plans to launch its equity research platform later.
Kingswood US president and managing partner Mike Nessim said: “We are delighted to welcome Joseph T. Rallo and David W. Boral along with their professional teams to the Kingswood.
“The expansion under Kingswood Holdings Limited, a publicly traded entity, and the commitment of $8 Million for recruiting experienced investment professionals is a testament to our US growth strategy.”
Rallo has spent more than 14 years in the investment banking and securities sector.
Previously, he worked at Aegis Capital, Maxim Group, and JMP Securities.
Boral investment banking and capital markets experience spans more than 15 years.
He formerly had stints at Aegis Capital, Maxim Group, Aeon Funds Group, and Viatar CTC Solutions.
Earlier this year, Kingswood acquired Hull-based IFA business Sterling Trust.