B. Riley Financial Merges BDs
LOS ANGELES, Nov. 01, 2017 (GLOBE NEWSWIRE) -- B. Riley Financial, Inc. (NASDAQ:RILY), a diversified financial services company, and parent company to B. Riley & Co. ("BRC") and FBR Capital Markets & Co. ("FBR"), announced today that it has merged its two broker-dealers under the name of B. Riley FBR, Inc. ("B. Riley FBR"). Bryant Riley and Tom Kelleher will continue to lead the combined company as co-CEOs.
B. Riley FBR is a full-service investment bank with broad distribution capabilities focused on small cap companies. In addition, B. Riley FBR provides capital markets and advisory services to a variety of corporate and institutional clients. This most recent announcement follows the firm's acquisition of Wunderlich Securities, Inc. in June.
"Operating as one combined entity makes B. Riley FBR an industry leader in the small-cap investment banking and brokerage space. What we are offering clients is unparalleled access to small cap companies and those who invest in them," said Bryant Riley, Co-CEO of B. Riley FBR and Chairman and CEO of B. Riley Financial. "We are committed to continuing to invest in building upon the firm's market leadership and its deep industry and capital markets expertise."
B. Riley FBR has over 40 years of collective experience in raising capital for clients through direct lending and recapitalizations, 144As, ATMs, public market offerings, and other creative solutions. The firm offers world class institutional equity distribution for both public and private deals. The brokerage group makes markets in over 1,500 securities, covers 1,200 institutional clients and has approximately 500 names under research coverage.
B. Riley FBR will continue to focus on its core sectors including Consumer, Technology, Energy, Financials and Real Estate, while expanding its presence in additional sectors such as Healthcare.
Tom Kelleher, Co-CEO of B. Riley FBR and President of B. Riley Financial added: "Our clients come to us for our senior-level experience, relationships and world-class execution. By combining these two entities and operating as one cohesive firm, we are in a position to bring all of our resources to bear more efficiently and effectively for our clients."
About B. Riley Financial
B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries, including B. Riley FBR, Inc., Wunderlich Securities, Inc., Great American Group, LLC, B. Riley Capital Management, LLC (which includes B. Riley Asset Management, B. Riley Wealth Management, and Great American Capital Partners, LLC) and B. Riley Principal Investments, which engages in proprietary investments in other businesses, such as the acquisition of United Online, Inc.
Source: B. Riley Financial, Inc.
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