CastleOak Securities Establishes Dedicated Tarp Team.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- In third graph, first sentence of release, the fourth specialist should read: Franklin Sacks (sted Franklin Saks). The corrected release reads: CASTLEOAK SECURITIES ESTABLISHES DEDICATED TARP TEAM CastleOak Securities, L.P., a leading minority-owned investment bank, announced today that it has established a dedicated team of veteran professionals to assist the Treasury Department, its agents and contractors in the acquisition, management and disposition of the financial institution assets that are the focus of the federal government's Troubled Asset Relief Program ("TARP"). "Our principals have done significant work for Fannie Mae Fannie Mae: see Federal National Mortgage Association. , Freddie Mac, Ginnie Mae and the Resolution Trust Company, amongst other government-related entities," said David R. Jones David Rumph Jones (April 5, 1825 – January 15, 1863) was a Confederate general in the American Civil War. Jones was born in Orangeburg, South Carolina. He was a nephew of Zachary Taylor and a cousin of Jefferson Davis and Richard Taylor. , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CastleOak. "Our TARP team has significant experience in working with clients that buy and sell hard to value illiquid Illiquid An asset or security that cannot be converted into cash very quickly (or near prevailing market prices). Notes: A house is a good example of an illiquid asset. See also: Cash, Liquidity Illiquid In the context of finance. assets" he added. CastleOak's eight person TARP team features five specialists: Nathaniel Christian, Patrick de Catalogne, Allen R. Siegel, Franklin Sacks, and Christopher J. Dirkes. These specialists have a combined 75 years of experience that includes work in the securitization and derivatives market selling agency securities, including Ginnie Mae MBS See Mb/sec. MBS - mobile broadband services and Ginnie Mae REMIC securities, involvement in the development of both the CMO CMO See: Collateralized mortgage obligation CMO See collateralized mortgage obligation (CMO). (MBS) and home equity (ABS) markets, and providing legal representation to mortgage bankers regarding secondary market issues as well as government issuers of residential and multi-family mortgage-backed securities. CastleOak closely monitored the developing Emergency Economic Stabilization Act ("EESA See EISA and ESA/370. ") that established the TARP, and continues to monitor TARP-related developments such as the recent establishment of the Capital Purchase Program (CPP cpp - C preprocessor. ). CastleOak maintains a keen understanding of the changing legislative and regulatory priorities that will drive the implementation of the program. "We at CastleOak firmly believe that when it comes to the value that minority-owned investment banks can deliver to the government and to our other clients in the context of the TARP, our team is second to none," said Jones. About CastleOak Securities, L.P. CastleOak Securities, L.P. is a leading minority-owned investment bank with an extensive suite of financial services including equity sales and trading, fixed income sales and trading, and financial advisory services. The firm offers clients expertise in primary and secondary market transactions, advice on mergers, acquisitions, divestitures, valuations and general strategic assessments. Based in New York, with regional offices in Chicago and Atlanta, CastleOak is managed by a team of seasoned investment bankers who provide innovative, client-driven solutions that leverage their extensive professional experience, strong institutional relationships and keen market insight. For more information, please visit www.castleoaklp.com. |
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