MLV & Co., a New York-based boutique investment bank, announced that it established a new office in Houston focused on, among other things, expanding the firm's product offerings in oil, gas, and related industries. MLV has hired three seasoned energy industry professionals -- one research analyst and two institutional sales people -- to form the core of what the firm expects will be an eight to 12 person office in the near term.
William C. Conroy, CFA, an equity research analyst in oil field services, has been selected to head the office. Conroy has provided institutional research coverage for more than 20 years. In 2011, he was named #3 "Best On The Street" by The Wall Street Journal for stock picking in the oil equipment services and distribution industry during the preceding year.
Joining Conroy will be Brad Deason and Bill McMackin, institutional salesmen each with more than 20 years of Wall Street experience. The three were most recently together at Pritchard Capital. In addition to the three new hires, current MLV senior energy bankers, Seth Appel and Jon Kruljac, will be co-locating to Houston from New York and Denver, respectively, to direct the firm's banking efforts in the sector.
Since its inception in 2010, MLV has completed more than 100 transactions that have raised more than $2.8 billion for its clients. From January 2010 through today, MLV has been the lead underwriter on 73 at the market transactions totaling nearly $2 billion at the time of filing, surpassing every other investment bank during this period. Approximately 30% of the transactions and 50% of the capital raised has been executed in the energy industry. The firm's objective in establishing the Houston office is to expand on the already substantial relationships that MLV has in the sector and to further develop relationships throughout all aspects of the energy industry.