PMG Capital’s Daniel Kinsella has joined Emerging Growth Equities as managing director of capital markets.
A 20-year trading veteran, Kinsella officially joined EGE on Aug. 1. He reports to Gregory Berlacher, the firm’s founder, president and chief executive officer.
Kinsella spent the majority of his career at Pennsylvania Merchant Group, which was taken over by Investec in 2002. He also worked as a managing director at EKN Securities, Kildare Capital and Drexel Hamilton.
PMG Capital is not a broker-dealer, and it has now become a part of EGE. Kinsella said EGE would be adding other personnel in institutional sales and trading over the next few months.
EGE, an investment banking and institutional trading boutique firm, first became a broker-dealer in 1999. Though for the last three years the firm was focused on the investment banking side, it is now making a push on the institutional trading side as well.
“We’re trying to re-create the merchant banking idea, which has kind of been lost,” Kinsella said. “It was a great thing through the 70s, 80s, early 90s, and then the true merchant banking aspect dissipated as Wall Street got bigger, and you had so many huge banks.”
Now there is a void for late-stage private companies and small publicly traded companies that are looking for $15 million to $30 million deals, Kinsella said. Because of consolidation, most big banks are focused on deals of $200 million and up and do not have much reason to go searching for small diamonds in the rough, he added.
King of Prussia, Pa.-based EGE bills itself as having an advantage over other boutique firms because it has both investment banking and institutional trading. Kinsella said the firm is committed to a first-class market-making effort able to provide the same quality as any firm on Wall Street.
