With superior performance and the best talent on the Street, CEO David R. Jones transformed his boutique firm into one of the fastest-growing investment banks
NEW YORK-BASED CASTLEOAK SECURITIES L.P. set out to prove that it was ready to play in the big leagues after only a few months in business. As a newly minted company in 2006, the firm was named sole co-manager for a $300 million floating-rate bond issue by General Electric—one of only two companies on the tombstone. The lead manager was one of Wall Street’s most venerable firms. CastleOak executed their end of the deal impeccably but some within the investment community placed a bet that of the two firms engaged in the transaction, the startup would not prove to be sustainable for the long haul.
Those forecasters were dead wrong. CastleOak turned out to be one of the sector’s fastest-growing boutique investment banks, involved in some of the biggest, game-changing bond and equity offerings over the past decade. By the way, the other firm was none other than Lehman Brothers, the then-158-year-old investment colossus that was among the first casualties of the financial meltdown in 2008.
This story is from the May/June 2017 edition of Black Enterprise.
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This story is from the May/June 2017 edition of Black Enterprise.
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