Global Hunter Securities, a New Orleans-based investment bank, announced Monday it plans to merge with The Seaport Group to form a boutique full-service global investment bank.
The new bank, which does not have a name yet, will have a track record of $150 billion in fixed income transactions and 170 investment banking transactions over the past three years, with a value of $30 billion.
The merger is expected to be completed before the end of the year, pending regulatory approval. The bank will be headquartered in New Orleans and New York.
Global Hunter, which has 110 employees, focuses on natural resource related sectors, such as energy, industrials and shipping. Seaport, which was founded in 2001 as a distress debt broker, has nearly 200 employees. Mike Meagher, co-founder of The Seaport Group, which is based in New York, said the merger will take both Seaport and Global Hunter to a higher level.
“Our new firm will be one of the few genuinely full-service boutique investment banks able to offer clients advisory, sales and trading services across all products and markets,” Meagher said. “Now more than ever clients want to work with independent firms with client focus and best execution as their key values.”
Daniel O. Conwill IV, CEO of Global Hunter Securities said the deal will give clients access to a range of markets, from high yield to distressed.
“Offering an enhanced range of banking products is now possible,” Conwill said.
Conwill and Meagher will serve as co-CEOs.