New firms in town.Morgan Joseph & Co., a middle-market high-yield debt In finance, a high yield bond (non-investment grade bond, speculative grade bond or junk bond) is a bond that is rated below investment grade at the time of purchase. specialist in 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 , and Strategic Equity Group, an investment bank in Orange County, have both opened new offices in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. that cater to mid-size companies. Morgan Joseph's president and chief executive, John Sorte, is a former chief executive and co-head of corporate finance at Drexel Burnham Lambert Drexel Burnham Lambert was a major Wall Street investment banking firm, which first rose to prominence and then was driven into bankruptcy in the 1980s by its involvement in illegal activities in the junk bond market, driven by Drexel employee Michael Milken. . Paul Huffman III, who headed Morgan Joseph's Nashville office, was named managing director in Los Angeles. Another managing director, Robert Whyte, will focus on media and communications firms. In the past two years, Morgan Joseph has completed about a dozen transactions in Southern California and has been an advisor on 80 transactions nationwide. Strategic Equity, based in Santa Ana, provides buy-side merger-and-acquisition and valuation services including tax and financial reporting requirements. Michael Ellington, managing director and a former auditor at Ernst & Young LLP LLP - Lower Layer Protocol , will head up the firm's new Los Angeles office. |
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