Amherst merges with Pierpoint
03 July 2014 Texas
Image: Shutterstock
Amherst Securities Group and Pierpont Securities have entered into a definitive agreement to merge, in a transaction that will create a fixed-income broker-dealer.
The combined company will be known as Amherst Pierpont Securities LLC. Financial terms of the transaction were not disclosed.
Amherst Pierpont Securities will provide institutional and middle-market clients with access to a broad range of fixed-income products including residential and commercial mortgage-backed securities, asset-backed and other highly-structured finance transactions, US treasuries, federal agency debentures, investment grade corporate securities and repo finance.
In addition, the firm will offer analytics, an enhanced trading platform and a broader distribution network.
Amherst Pierpont Securities will be led by Mark Werner, the current CEO of Pierpont, and Joseph Walsh, the current president of Amherst Holdings LLC. Both will retain their respective titles at the new company. Thomas Connor, the current president of Pierpont, will serve as COO.
"Combining Amherst's unparalleled leadership in mortgage-related securities and Pierpont's liquid product-related offerings will create a scalable platform that will have an unmatched ability to capture future growth opportunities," said Werner.
"We have long respected Amherst's impressive capabilities in the mortgage space and look forward to leveraging Pierpont's strengths to grow the combined firm."
Shearman & Sterling LLP served as legal advisor to Pierpont, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Amherst Holdings.
The combined company will be known as Amherst Pierpont Securities LLC. Financial terms of the transaction were not disclosed.
Amherst Pierpont Securities will provide institutional and middle-market clients with access to a broad range of fixed-income products including residential and commercial mortgage-backed securities, asset-backed and other highly-structured finance transactions, US treasuries, federal agency debentures, investment grade corporate securities and repo finance.
In addition, the firm will offer analytics, an enhanced trading platform and a broader distribution network.
Amherst Pierpont Securities will be led by Mark Werner, the current CEO of Pierpont, and Joseph Walsh, the current president of Amherst Holdings LLC. Both will retain their respective titles at the new company. Thomas Connor, the current president of Pierpont, will serve as COO.
"Combining Amherst's unparalleled leadership in mortgage-related securities and Pierpont's liquid product-related offerings will create a scalable platform that will have an unmatched ability to capture future growth opportunities," said Werner.
"We have long respected Amherst's impressive capabilities in the mortgage space and look forward to leveraging Pierpont's strengths to grow the combined firm."
Shearman & Sterling LLP served as legal advisor to Pierpont, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Amherst Holdings.
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