Professional profile » James S. Cassel
Vice Chairman
Managing Director
Head of Investment Banking jcassel@ladenburg.com
In addition to managing the Investment Banking Division, Mr. Cassel takes an active role with clients, and his extensive transactional and corporate finance experience serves as a valuable resource. Through membership on boards of directors and his active involvement in outside business operations, Mr. Cassel has developed a keen understanding of the challenges faced by middle market and emerging growth companies. Mr. Cassel has negotiated, structured and executed various types of transactions including mergers, acquisitions and divestitures; corporate and transactional financing, including venture capital, mezzanine and conventional financing; and public offerings and private placements. With experience as an investment banker and as an attorney, Mr. Cassel has also developed a unique understanding of the issues faced and alternatives available for distressed companies. He has particular experience in developing financial restructuring plans, negotiating with creditors and guiding debtors through bankruptcy proceedings.
Nationally recognized for his investment banking expertise, Mr. Cassel frequently lectures on timely issues relating to middle market investment banking. Prior to founding Capitalink, Mr. Cassel was President of Catalyst Financial, where he advised clients on financings and mergers and acquisitions. He was also the Managing Partner of the Miami office and served on the executive committee of Broad and Cassel, one of Florida's largest law firms. He founded and led the firm's corporate/securities practice. Mr. Cassel has served on boards of directors of several companies, in addition to the National Investment Banking Association, an organization of middle market investment banking firms. His professional involvements have also included membership in the American Association of Arbitrators and the FINRA Board of Arbitrators. In addition, he was President of the South Florida Chapter of the Association for Corporate Growth. Mr. Cassel is a member of the Board of Directors of Equity One, a NYSE listed REIT.
Mr. Cassel earned a Bachelor of Science degree from American University and his J.D. degree from the University of Miami School of Law. He is a member of the New York and Florida Bars.
» Peter H. Blum
Vice Chairman
Managing Director
Head of Capital Markets phblum@ladenburg.com
Mr. Blum is responsible for all capital markets transactions. In addition, he takes an active role with both clients and prospective clients. Mr. Blum devotes much of his time to the intricacies of Special Purpose Acquisition Companies (SPACS), and has significant experience in all facets of the energy sector. Prior to joining Ladenburg in 2004, Mr. Blum was President of Bear Ridge Capital LLC, a financial advisory firm specializing in providing strategic merger and acquisition advice as well as providing private capital to mid size businesses, and start-ups primarily in the Energy Sector. Mr. Blum formerly served as Senior Managing Director and Head of Investment Banking of GBI Capital, a predecessor to Ladenburg. Before joining GBI in 1997, Mr. Blum was Managing Director and Head of the Energy, Merger and Acquisition, and Restructuring Groups of Rodman and Renshaw Inc. and Mabon Securities Corp.
Mr. Blum has also taken active management roles with public and private companies in order to facilitate their sale or restructuring. Mr. Blum also was a Partner at Houghton and Company, an Advisory and Leveraged Buyout boutique. He started his career at Arthur Young and Company. Mr. Blum currently serves as Chairman of Mitcham Industries Inc. (NASDAQ - MIND).
Mr. Blum earned a Bachelor of Business Administration degree from the University of Wisconsin at Madison.
Managing Directors
» Edwin H. Gordon
Head of Punk Ziegel Healthcare Group egordon@ladenburg.com
Mr. Gordon has advised healthcare clients seeking insightful solutions to their financing needs, in more than $12 billion of capital raising and merger activities during his 26 year career on Wall Street.
Mr. Gordon joined Ladenburg from Merriman Curhan Ford & Co. (“Merriman”), where he served as Managing Director and co-head of the Life Sciences Investment Banking department. While at Merriman, Mr. Gordon was responsible for managing public offerings and Private Investment in Public Equity (“PIPE”) transactions, and developing a strategy to effectively market Merriman Research to the venture capital community. Prior to joining Merriman, Mr. Gordon served as Managing Director and head of Punk, Zeigel & Company’s healthcare practice. Earlier in his career, Mr. Gordon was a Managing Director in the Investment Banking Department at SG Cowen Securities Corporation and Furman Selz, all health care focused investment banks. Prior to becoming an investment banker, Mr. Gordon was a Vice President and the Senior Healthcare Services Analyst at Morgan Stanley & Co.
Mr. Gordon earned a Bachelor’s degree in economics and a M.B.A. in finance and economics from the University of Pittsburgh.
» Jonathan Intrater jintrater@ladenburg.com
Mr. Intrater has significant industry experience in the communications, restaurant, gaming, food processing and general industrial sectors. Prior to joining Ladenburg Thalmann, Mr. Intrater was a Managing Director at Brenner Securities Corporation. In these capacities he has been involved in over $2 billion of transactions over the past twelve years. These include public equity and high-yield note offerings; and private placements of senior and subordinated debt and equity securities in numerous private companies. Mr. Intrater has also completed many buy and sell-side merger advisory transactions, and various debt restructuring assignments. Prior to his employment in investment banking, Mr. Intrater was a Senior Vice President at BIA/Frazier, Gross & Kadlec, a nationally known communications industry valuation firm.
Mr. Intrater earned a Bachelor of Business Administration from the University of Pennsylvania and a Masters of Business Administration from Vanderbilt University.
» Steve Kaplan skaplan@ladenburg.com
Mr. Kaplan devotes much of his time to the Blank Check market and the healthcare industry. Mr. Kaplan has worked in the financial community for over fifteen years and has substantial experience advising companies in a variety of industries. Prior to joining Ladenburg, Mr. Kaplan was Co-Founder of River Capital Partners, a healthcare investment banking boutique. Prior to the formation of River Capital Partners, Mr. Kaplan spent three years with Prudential Securities where he was a Vice President in HealthCare Investment Banking and three years as a Vice President in the Corporate Advisory Group of Jefferies & Company.
During his tenure with these firms, Mr. Kaplan primarily focused on the healthcare industry, though he completed transactions in the technology, retailing and financial services industries. Mr. Kaplan's background also includes three years as a Manager in the Corporate Finance Group of Deloitte & Touche, where he primarily focused on performing due diligence reviews related to acquisition transactions and four years as an auditor with PriceWaterhouseCoopers. Mr. Kaplan has completed over 30 transactions including private placements, initial and follow-on offerings, M&A and restructurings.
Mr. Kaplan earned a Bachelors of Business Administration cum laude from Babson College and a Masters of Business Administration from The University of North Carolina.
» Michael Margolies mmargolies@ladenburg.com
Mr. Margolies has over 25 years of Wall Street experience. Prior to joining Ladenburg, Mr. Margolies founded and served as CEO of independent research provider, Avalon Research Group Inc., from 1995 through its sale in 2004. With over 100 hedge fund and mutual fund clients, Avalon was a top rated independent research firm and founding member of Investorside Research Association, a non-profit trade association of investment research providers not engaging in investment banking. Prior to founding Avalon, Mr. Margolies managed long/short discretionary accounts for M.A. Berman & Co., a boutique money management and brokerage firm with more than $500 million under management. In the eighties to early nineties, Mr. Margolies managed discretionary accounts as a Senior V.P. and Limited Partner at Oppenheimer and Company in New York.
» Ira Leiderman ileiderman@ladenburg.com
Mr. Leiderman has extensive experience in debt and equity raises, mergers and acquisitions, strategic advisory assignments as well as significant expertise in the healthcare industry. He joined Ladenburg Thalmann in May 2008 through the acquisition of Punk Ziegel Health Care Group. His previous experiences include Managing Director for Trout Capital LLC, and The Palladin Group LLC. Mr. Leiderman also served as Senior Vice President, Corporate Finance and Senior Healthcare Banker for Gerad Klauer Mattison (now BMO Financial Group).
Mr. Leiderman has served as a director of numerous healthcare companies and currently serves as a Director of several not-for-profit organizations and has a BS from the City University of New York, Brooklyn College.
» Sol Alan Saad ssaad@ladenburg.com
Mr. Saad was appointed Managing Director and Head of Ladenburg Thalmann's Telecom, Technology, Internet & Software Group in February 2008. Mr. Saad's primary focus involves raising debt and equity, and structuring and executing financial transactions and corporate restructurings including mergers, acquisitions, and divestitures, principally in the technology sector. Mr. Saad has extensive expertise representing fixed and wireless telecommunications carriers, Internet and value-added converged technology businesses, and new media and software companies.
Prior to joining Ladenburg, Mr. Saad was Managing Director and Founder of The Phillimore Group, a London-based investment banking boutique and venture firm focused on the technology sector. Prior to the founding of The Phillimore Group, Mr. Saad was a Director at Salomon Brothers Inc. and Salomon Brothers International Limited - London. In addition, Mr. Saad was a Managing Director and Regional Vice President of Wells Fargo Bank Group in various locations, including San Francisco, London, and the Cayman Islands.
Mr. Saad earned a Bachelor of the Arts from Colgate University and a Masters of Business Administration degree from The Wharton School, University of Pennsylvania. Mr. Saad is also an active board member of various technology companies in the United Kingdom, and is a Trustee for POWER International, a charity focused on assisting landmine victims and disabled people in Southeast Asia and Africa.
» Scott E. Salpeter ssalpeter@ladenburg.com
In addition to playing an active role in Ladenburg's merger and acquisition; fairness opinion; and financial advisory practices, Mr. Salpeter directs the firm's financial analysis and methodology group. Prior to joining Ladenburg, Mr. Salpeter was a founder and Managing Director of Capitalink. Prior to founding Capitalink, Mr. Salpeter was a Vice President of Catalyst Financial, where he was responsible for a variety of merger and acquisition, and other corporate finance assignments.
His career includes extensive experience in corporate finance in the United States, as well as internationally. Before becoming an investment banker, he served as Chief Financial Officer of three different publicly held corporations, including a European-based company. Mr. Salpeter, who is an Accredited Valuation Analyst, has also served on the boards of directors of several public and private companies. His opinion on mergers and acquisitions and corporate finance has been sought by various business publications. Mr. Salpeter studied at Washington and Lee University, where he earned a Bachelor of Science degree in Commerce with specialization in Business Administration and Accounting.
» Barry E. Steiner bsteiner@ladenburg.com
Mr. Steiner utilizes his broad range of experience to provide Ladenburg's clients with guidance in a variety of investment banking disciplines. He has negotiated and structured transactions involving mergers and acquisitions, public offerings, and private placements. Prior to joining Ladenburg, Mr. Steiner was a founder and Managing Director of Capitalink. Through his business relationships, Mr. Steiner has developed an extensive network of private equity and later stage venture capital sources. Mr. Steiner speaks frequently on relevant investment banking topics.
Mr. Steiner practiced corporate and securities law at two Florida-headquartered law firms, Akerman Senterfitt & Eidson, and Broad and Cassel. Mr. Steiner is a member of the New York, New Jersey and Florida Bars.
Mr. Steiner earned a Bachelor of Science in Economics degree from The Wharton School, University of Pennsylvania and a J.D. degree, cum laude, from the University of Miami School of Law where he was a member of the Law Review.
Vice Presidents
» Amy Cooper CFA
Vice President acooper@ladenburg.com
Miss Cooper has extensive experience in capital raising transactions primarily in the healthcare, biotechnology, and medical devices sectors.
Miss Cooper joined Ladenburg from Merriman Curhan Ford & Co. where she was a Vice President in the Life Sciences Investment Banking department. She was most recently a Vice President at Punk, Ziegel & Company, a specialty investment bank focused on the life science, biotechnology, and technology industries. Prior to joining Punk, Ziegel & Company, Miss Cooper worked in the investment banking department of Sands Brothers & Co., Ltd., a New York Stock Exchange member firm. Miss Cooper began her career as an equity research associate and is a CFA charter holder.
Miss Cooper earned both Bachelor’s and Master’s degrees from the University of Pennsylvania, where she was elected to Phi Beta Kappa.
» Kristin Haugk
Vice President khaugk@ladenburg.com
Ms. Haugk uses her extensive financial experience and deep relationships throughout the financial community in her work on Ladenburg's private placement and PIPE engagements.
Prior to joining Ladenburg, Ms. Haugk was Vice President of Institutional Research Sales at Avalon Research Group, where she built and maintained relationships with hedge fund and mutual fund clients, as well as managed the institutional research sales team. Her tenure at Avalon included time on the trading desk and in the research department. Ms. Haugk has also worked on the buy-side for a small hedge fund as a portfolio manager and trader. Her retail background is comprised of work in the sales, operations, and finance departments of several publicly traded companies. Ms. Haugk holds dual degrees from The Ohio State University.
» Menachem Kranz
Vice President mkranz@ladenburg.com
Mr. Kranz has worked in the financial sector for over 10 years and has developed extensive relationships within the Institutional Community. Mr. Kranz is now involved in many aspects of Ladenburg’s Investment Banking services. With his focus being primarily business development, he also is involved in the various phases of the deal from inception to close. In addition, Mr. Kranz focuses on interacting with Ladenburg’s institutional sales department to ensure optimum deal placement and follow-on success.
Prior to joining Ladenburg, Mr. Kranz was a proprietary hybrid trader with RBC Royal Bank. Before joining RBC, he was VP and Director of Sales at Avalon Research Group Inc., an independent research provider.
» David Malina
Vice President dmalina@ladenburg.com
Mr. Malina is actively involved in business development for Ladenburg's Investment Banking Division. From 2003 to 2006, Mr. Malina was Corporate Vice President of Investor Relations and Corporate Communications for IVAX Corporation, a multinational pharmaceutical company. Previously, Mr. Malina was Managing Director at the Kriegsman Group, a boutique healthcare investment bank in Los Angeles, California. From 1974 to 2000, Mr. Malina was a highly regarded screenplay and teleplay writer.
Mr. Malina is an honors graduate of The Wharton School, University of Pennsylvania and attended the London School of Economics and Political Science.
» William (Tripp) Murray III
Vice President wmurray@ladenburg.com
Mr. Murray is involved in nearly all aspects of Ladenburg's investment banking services. Mr. Murray helps manage the various phases of the deal from inception to close. Prior to joining Ladenburg, Mr. Murray worked for TM Capital, a boutique investment banking firm located in New York and Atlanta, focusing on mergers & acquisitions for middle market clients. Prior to TM Capital, Mr. Murray worked for Oppenheimer & Co. (formerly Fahnestock & Co.) as an Analyst focusing on public equity offerings. He started his career at PriceWaterhouseCoopers, as a financial consultant in their Financial Advisory Services group, focusing on corporate recoveries and bankruptcy work. Mr. Murray earned a Bachelor of Science cum laude from Babson College and a Masters of Business Administration from Fordham University.
» Marcus B. Wai
Vice President mwai@ladenburg.com
Mr. Wai is integrally involved in the firm's financial analysis that underlies all of the investment banking services that Ladenburg provides. Prior to joining Ladenburg, Mr. Wai was a Vice President at Capitalink. Mr. Wai, a native of New Zealand, was an investment banker with Cameron & Company Limited, one of New Zealand's top boutique investment banking firms. At Cameron, Mr. Wai advised on various corporate finance and merger and acquisition assignments in a variety of industries, including agriculture, electricity, banking, manufacturing, and Internet services.
After coming to the United States, Mr. Wai was a merger and acquisition Analyst at Tutor Time Corporation, a large privately held company, where he established the franchise acquisition program. He studied at Massey University in New Zealand, where he earned both a Master's and a Bachelor's degree in Business with specialization in economics and finance.
» Kathy E. Welker CFA
Vice President kwelker@ladenburg.com
With her strong financial experience, Ms. Welker is actively involved in the various aspects of Ladenburg's investment banking services. In particular, she works closely with other members of the Ladenburg team in developing the financial analytics to support the firm's fairness opinion, merger and acquisition and capital raising practices. Prior to joining Ladenburg, Ms. Welker was a Vice President at Capitalink. Ms. Welker, a native of Hungary, was also an Associate with Houlihan Lokey Howard & Zukin. At Houlihan, her responsibilities included engagement management for financial advisory assignments, such as fairness and solvency opinions, and common stock and debt security valuations for both healthy and distressed companies. She advised on assignments in a variety of industries including technology, telecommunications, food, plastics and packaging, consumer goods, railway, biotechnology, and waste management.
Previously, she spent four years with ABN AMRO Bank working in structured finance where she executed projects in credit structuring, project finance and syndications. In addition, Ms. Welker was a summer intern at Merrill Lynch where she worked in the financial sponsors group. Ms. Welker holds a B.A. in Business Studies from Oxford Brookes University, first class, and received a M.B.A. from University of Michigan Business School, graduating with high distinction.
